LiveOne (Nasdaq: LVO) Closes $16.775M Debt Financing, Convertible at $2.10 Per Share, Led by Funds Advised by JGB Management, Inc. and Other Investors

Financial Moves - LiveOne has closed a $27.775 million senior secured convertible notes financing, drawing down $16.775 million on May 19, 2025, with the potential to draw an additional $11 million based on financial performance conditions [1][2] - The convertible notes convert into shares at a price of $2.10 per share, strengthening LiveOne's balance sheet and funding strategic growth initiatives [1][2] - A portion of the net proceeds was used to fully pay off a $7 million loan from East West Bank and $4 million in short-term payables [5] Planned Initiatives - The financing is seen as a major milestone for LiveOne, allowing the company to optimize its capital structure and focus on growth and profitability [2] - LiveOne aims to grow and close up to 75 B2B partnerships, convert additional Tesla subscribers, and pursue M&A opportunities [5] - The company plans to expand its AI and data mining capabilities to monetize a database of 60 million users and grow its current 1.5 million subscribers and ad-supported users [5]