Teamshares
Closed (deSPAC)Financials · Tech-enabled acquiror of small and medium-sized enterprises (employee ownership) · New York, United States · founded 2020
- What it is
- Acquires established small and medium-sized enterprises outright from retiring owners, operates them under decentralised local leadership on a centralised financial-technology stack, and transfers equity to employees over time.
- What it’s doing now
- Merging with Live Oak V (LOKV) — closed (despac).
- What you should know
- The deal carries a $120M minimum-cash condition — heavy redemptions can break it.
The business, per its filings
SEC primaryTech-enabled programmatic acquirer and operator of small and medium-sized enterprises (SMEs), targeting traditional businesses with $0.5M-$5M EBITDA from retiring Baby Boomer and Gen X owners. Functions as a permanent home by purchasing these companies, integrating them onto a centralized fintech platform, installing experienced industry presidents, aligning employees through stock ownership, and compounding free cash flow through disciplined capital allocation.
Source: S-4 (cover page, co-registrant table and business section), accession 0001193125-26-141314 · extraction confidence: high
What the company says about itself
Web research — not auditedTeamshares is a tech-enabled acquiror of high-quality small businesses with $0.5-5 million of EBITDA from retiring owners. It integrates acquired companies with the Teamshares platform and helps employees earn company stock, creating a permanent home for businesses where retiring owners, employee owners, companies, and local economies all benefit.
- Markets:
- small business acquisition
- Products:
- Teamshares platform | Teamshares Leadership Accelerator | Teamshares operating platform
- Customers:
- Stephanie L. | Mitch H. | Patty R. | Neil R. | Colin C.
[WEB-INTEL 2026-08-26] 4 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Live Oak Acquisition Corp. V (NASDAQ: LOKV) general meeting on June 16, 2026." [https://www.globenewswire.com/news-release/2026/06/19/3314730/0/en/teamshares-and-live-oak-acquisition-corp-v-complete-business-combination.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "received $126.5 million additional capital" [https://www.globenewswire.com/news-release/2026/06/19/3314730/0/en/teamshares-and-live-oak-acquisition-corp-v-complete-business-combination.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "About 18.4M Class A shares were redeemed, leaving $48.1M" [https://www.stocktitan.net/sec-filings/LOKV/8-k-live-oak-acquisition-corp-v-reports-material-event-6e154096891d.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Live Oak Acquisition Corp. V priced a $230mm IPO in March 2025 and subsequently completed an June 2026 business combination with Teamshares" [https://www.liveoakacq.com/]
Source: https://www.teamshares.com/ · captured Aug 26, 2026 · marketing claims are reported as claims, never merged into the filed figures above.
The deal it’s entering
Teamshares is merging with Live Oak V (LOKV), a $230M SPAC currently marked Closed (deSPAC).
| Headline equity value | $525M |
| PIPE | ≈ $126M · unsourcedcommon @ $9.20: 13,750,000 Live Oak shares at a purchase price of $9.20 per share for gross proceeds of approximately $126.5 million, subscribed contemporaneously with the Merger Agreement and conditioned on the concurrent Closing. |
| Minimum cash to close | $120M |
Structure per SEC accession(s) 0001193125-26-141314. How to read these numbers: headline vs effective valuation · what a definitive agreement commits
What exactly is being valued, and at what
What the filings actually value
The combined company net of that cash — what the buyers are paying for the BUSINESS. Every multiple below is struck on this figure and on nothing else.
What that price is, per dollar of sales
Enterprise value ÷ EBITDA — not shown
No EBITDA figure for Teamshares appears in any filing we hold, so no EV/EBITDA multiple is shown. We have not inferred one from a margin assumption — a multiple built on an assumed margin measures the assumption, not the company.
All figures above are stated in EX-99 investor presentation (same-day full copy; 13.7 was PIPE share count per its footnote 4)0001213900-26-037648
Was this deal done at an expensive or a cheap valuation?
SpacBrain’s read on the price
No multiple can be computed
We hold no revenue figure in US dollars for Teamshares, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $825M regardless.
We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.
Pro-forma enterprise value as filed.
Not extracted from the filings yet.
Not computable — no revenue figure has been extracted from the filings yet.
No listed comparable carries a revenue multiple we can use.
What qualifies the figures above
- TMS, BCAL, FSBC, FBIZ, JMSB, FXNC, CBU, BAFN, BAP, FVCB, SSBI have no revenue to divide by, so they are shown but left out of the peer median.
- AUC shown for context only — not close enough to move the median.
The listed companies it is measured against
| Ticker | Company | Mkt cap | EV / revenue | EV / EBITDA | Why it’s comparable |
|---|---|---|---|---|---|
| TMS | Teamshares Inc. | $543M | — | — | Direct comp: Investment Management & Fund Operators (NEC); small-cap ($543m); shares acquiror, retiring, teamshares, employees, buys, tech with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| BCAL | California Bancorp | $605M | — | — | Operational comp: Corporate Banks; small-cap ($605m); shares transitions, cash, ownership, medium, sized, small with the target's own description; forward EV/Sales 3.7x.more ▾less ▴ |
| FSBC | Five Star Bancorp | $765M | — | — | Operational comp: Banks (NEC); small-cap ($765m); shares medium, sized, small, time, businesses, through with the target's own description; forward EV/Sales 2.8x.more ▾less ▴ |
| FBIZ | First Business Financial Services Inc | $452M | — | — | Operational comp: Corporate Banks; small-cap ($452m); shares medium, small, retirement, owners, sized, financial with the target's own description; forward EV/Sales 5.0x.more ▾less ▴ |
| JMSB | John Marshall Bancorp Inc | $283M | — | — | Operational comp: Corporate Banks; micro-cap ($283m); shares employees, medium, owners, sized, cash, local with the target's own description; forward EV/Sales 6.1x.more ▾less ▴ |
| FXNC | First National Corp | $228M | — | — | Operational comp: Corporate Banks; micro-cap ($228m); shares retirement, medium, sized, local, small, home with the target's own description; forward EV/Sales 3.2x.more ▾less ▴ |
| CBU | Community Financial System Inc | $3.0B | — | — | Operational comp: Banks (NEC); mid-cap ($3.0bn); shares employee, retirement, local, financial, management, company with the target's own description; forward EV/Sales 4.4x.more ▾less ▴ |
| BAFN | Bayfirst Financial Corp | $32M | — | — | Operational comp: Corporate Banks; micro-cap ($32m); shares transfers, enabled, small, cash, financial, technology with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| BAP | Credicorp Ltd | $76.6B | — | — | Operational comp: Banks (NEC); mega-cap ($76.6bn); shares strong, employees, than, financial, more, has with the target's own description; forward EV/Sales 3.4x.more ▾less ▴ |
| FVCB | FVCBankcorp Inc | $249M | — | — | Operational comp: Banks (NEC); micro-cap ($249m); shares medium, sized, small, businesses, through, its with the target's own description; forward EV/Sales 4.7x.more ▾less ▴ |
| SSBI | Summit State Bank | $79M | — | — | Operational comp: Corporate Banks; micro-cap ($79m); shares employees, medium, small, owners, sized, time with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| AUCcontext only | ATIF Holdings Ltd | $8M | — | — | Adjacent: Professional Information Services (NEC) — the businesses read alike, the vendor classification does not agree; micro-cap ($8m); shares going, enterprises, medium, sized, small, companies with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
Which companies belong on this list is our judgement, and the sentence beside each one is the whole of our reasoning — disagree with it and the verdict above changes. Rows marked context only are shown because they are informative, but they are deliberately left out of the median. The multiples come from listed-company data; a private target’s deal multiple is not audited the way theirs are.
Common questions
Is Teamshares going public?
Teamshares has an approved merger with the SPAC Live Oak V (LOKV). Deal status: Closed (deSPAC).
What is Teamshares's SPAC deal valuation?
The announced headline equity value is $525M.
Was Teamshares bought at an expensive or a cheap valuation?
We hold no revenue figure in US dollars for Teamshares, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $825M regardless.
Does Teamshares have revenue?
The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.
Educational content, not investment advice.
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