LiveOne announces $11.3M Series A Preferred Stock conversion

Robert Ellin, the CEO and Chairman of LiveOne, stated, “Jeff Osher, the Managing Member of the Harvest Funds, has successfully invested and partnered in many of my companies for over 20 years. He is renowned as one of the best small cap investors around the globe. I’m honored and excited that Jeff has once again shown extraordinary confidence in choosing to convert his interest-bearing perpetual preferred stock into our common stock at $2.10 per share. As a result, we will save approximately $7M in FY 2025 in cash flow and this will provide us with the necessary reserves to execute our business model, buy back what we believe to be our undervalued stock and pursue accretive acquisitions.”