Liveone significantly improves its balance sheet as it extends $21 million of debt including $15 million of senior debt to june 2024

Lowers minimum cash holding required from $10 million to $7 million providing flexibility for a potential future acquisition converts $1.5 million of music royalty liabilities into shares of its restricted common stock at $2.10 per share has extinguished approximately $6.5 million in liabilities since april 1, 2022 and currently holds approximately $30 million in short-term assets company will have approximately $13.0 million in cash and cash equivalents as of july 15, 2022 los angeles , july 12, 2022 /prnewswire/ -- liveone (nasdaq:  lvo ), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today continued progress in its on-going initiative to improve and strengthen its balance sheet. effective as of july 8, 2022, liveone entered into amendments with its senior secured subordinated lenders, harvest funds, as well as the holder of its unsecured promissory notes, trinad capital master fund, ltd.
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