LiveOne’s Slackler, Roth CH ACquisition announce LOI to merge

LiveOne (LVO)and Roth CH Acquisition V (ROCL), a special purpose acquisition company, announced that they have entered into a letter of intent, LOI, to merge LiveOne’s wholly-owned subsidiary, Slacker with Roth CH Acquisition V at a pre money valuation of $160M, subject to completion of diligence and definitive documentation. After the contemplated merger, LiveOne is expected to own the substantial majority of post-merger company and it is expected that Slacker will continue its existing business relationship with LiveOne and LiveOne’s PodcastOne in the creation and distribution of award-winning content. The parties currently anticipate being in a position to close the proposed merger in the fourth calendar quarter of 2023, subject to various conditions and approvals and completion of diligence and definitive documentation. Robert Ellin, Chairman and CEO of LiveOne and CEO of Slacker, commented, "We believe this combination will represent an exciting opportunity for Slacker to scale more rapidly its fast-growing music subscription service both geographically and through additional B-to-B white label agreements, particularly with automotive OEMs."