MEMPHIS,
Tenn., March 1, 2023 /PRNewswire/ -- Live Oak
Mobility Acquisition Corp. (NYSE: LOKM, LOKM.U, LOKM WS) ("LOKM" or
the "Company") announced today the cancellation of its special
meeting of stockholders (the "Special Meeting") originally
scheduled for March 2, 2023, and the
withdrawal from consideration by the stockholders of LOKM of the
proposals set forth in LOKM's Definitive Proxy Statement on
Schedule 14A filed with the U.S. Securities and Exchange Commission
(the "SEC") on February 10, 2023, as
supplemented by the proxy supplement filed with the SEC on
February 22, 2023 (the "Definitive
Proxy Statement").
LOKM expects that it will redeem all of its outstanding shares
of Class A common stock sold as part of the units in LOKM's initial
public offering (whether they were purchased in the initial public
offering or thereafter in the open market) because LOKM will not
consummate an initial business combination within the time period
required by its amended and restated certificate of incorporation.
LOKM expects to announce additional information on such redemption
in the coming days.
About Live Oak Mobility Acquisition Corp.
Live Oak Mobility Acquisition Corp. is a blank check company
incorporated in Delaware formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses.
Forward Looking Statements
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
included in this press release are forward-looking statements. When
used in this press release, words such as "anticipate," "believe,"
"estimate," "expect," "intend" and similar expressions, as they
relate to us or our management team, identify forward-looking
statements. Such forward-looking statements are based on the
beliefs of management, as well as assumptions made by, and
information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the SEC. All subsequent
written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including, without limitation, uncertainties relating to our
ability to complete our initial business combination and those set
forth in the "Risk Factors" section in the Definitive Proxy
Statement and in Item 1A of our Annual Report on Form 10-K for the
year ended December 31, 2021, filed
with the SEC on March 30, 2022, and
our Quarterly Reports on Form 10-Q filed with the SEC on
May 16, 2022, August 11, 2022, and November 9, 2022, and in other reports we file
with the SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Company Contact:
Gary K. Wunderlich, Jr.
Chief Financial Officer, President and Secretary
Live Oak Mobility Acquisition Corp.
(901) 685-2865
gwunderlich@liveoakmp.com
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SOURCE Live Oak Mobility Acquisition Corp.