LiveOne (LVO) announced that it has increased its stock repurchase program to a total of approximately $8.5M worth of LiveOne’s shares of common stock, inclusive of the shares that have already been repurchased. The expanded plan may include the possibility of buying back shares of common stock of PodcastOne (PODC). Separately, LiveOne has entered a new asset-backed lending revolving credit facility with East West Bank which replaced and refinanced its existing secured revolving credit facility with East West Bank. Under the terms of the new ABL, LiveOne adds financial flexibility and liquidity as the minimum cash balance requirement was reduced from $8M to $5M.
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