LiveOne (LVO) Registration Filing summary

Company overview and business model

• Operates a global music, entertainment, and technology platform delivering premium content via memberships, live/virtual events, streaming, and merchandise sales.

• Revenue streams include membership services, advertising, licensing, sponsorship, pay-per-view, and retail merchandise.

• Core services: live music streaming, Slacker streaming music, PodcastOne podcasting, and Custom Personalization Solutions for merchandise.

• Provides digital radio, podcasts, and live event streaming through multiple platforms and devices, including OEM automotive integrations.

• Expanded into podcasting and merchandising through acquisitions; operates music publishing and artist development businesses.

Financial performance and metrics

• As of February 4, 2025, 96,092,404 shares of common stock and 13,743 shares of preferred stock were outstanding.

• Net tangible book value as of September 30, 2024, was $(28.5) million, or $(0.30) per share.

• After a $25 million offering at $1.235 per share, as-adjusted net tangible book value would be $(0.04) per share, with immediate dilution of $1.28 per share to new investors.

• PodcastOne generated over 3.6 billion downloads in the year ended March 31, 2024.

Use of proceeds and capital allocation

• Net proceeds will be used for working capital, capital expenditures, general corporate purposes, potential acquisitions, and content purchases.

• Management retains broad discretion over allocation and timing of expenditures.

• Pending use, proceeds may be invested in short-term, investment-grade securities or used to reduce short-term debt.