via NewMediaWire – LiveOne (Nasdaq: LVO), an award-winning,
creator-first, music, entertainment and technology platform,
provided today certain updates for its ongoing $10M stock
repurchase program. Under the stock repurchase program LiveOne's
management has the discretion to buy back shares of common stock of
LiveOne and/or PodcastOne. LiveOne owns ~80% of PodcastOne’s
outstanding common stock.
Robert Ellin, Chairman and CEO of LiveOne, commented, “As
previously announced, we are continuing to repurchase shares of our
common stock in the open market. We strongly believe our shares are
grossly undervalued and our actions are intended to maximize
shareholder value. Our month-over-month increasing recurring cash
flows have enabled us to retire outstanding liabilities and debt,
and we believe this is the best use of our excess cash.”
The timing, price and actual number of shares repurchased under
the stock repurchase program will be at the discretion of LiveOne's
management and will depend on a variety of factors, including stock
price, general business and market conditions, and alternative
investment opportunities. The repurchase program will continue to
be executed consistent with LiveOne's capital allocation strategy,
which will continue to prioritize growing LiveOne's business.
Under the stock repurchase program, repurchases can be made from
time to time using a variety of methods, including open market
purchases, all in compliance with the rules of the U.S. Securities
and Exchange Commission and other applicable legal requirements.
The repurchase program does not obligate LiveOne to acquire any
particular amount of shares, and the program may be suspended or
discontinued at any time at LiveOne's discretion. LiveOne will
review the stock repurchase program periodically and may authorize
adjustment of its terms and size.
A portion of the stock repurchase program, which may include the
possibility of buying back shares of common stock of PodcastOne, is
subject to approval by LiveOne’s board of directors and any other
applicable approvals and consents, which LiveOne fully expects to
promptly obtain.
About LiveOne Headquartered in Los Angeles,
California, LiveOne, Inc. (Nasdaq: LVO) (the “Company”) is an
award-winning, creator-first, music, entertainment, and technology
platform focused on delivering premium experiences and content
worldwide through memberships and live and virtual events. The
Company's subsidiaries include Slacker Radio, PodcastOne (Nasdaq:
PODC), PPVOne, Palm Beach Records, CPS, LiveXLive, DayOne Music
Publishing, Drumify and Splitmind. LiveOne is available on iOS,
Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV,
and through STIRR’s OTT applications. For more information, visit
liveone.com and follow us on Facebook, Instagram, TikTok, YouTube
and Twitter at @liveone. For more investor information, please
visit ir.liveone.com.
About PodcastOne PodcastOne (Nasdaq: PODC) is a
Los Angeles based podcast network founded in 2012 by Kit Gray and
Norm Pattiz providing creators and advertisers with a full
360-degree solution in sales, marketing, public relations,
production, and distribution delivering over 2.1 billion downloads
per year with a community of 250 of the top podcasters, including
Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, and
A&E's Cold Case Files. PodcastOne has built a distribution
network reaching over 1 billion listeners a month across all of its
own properties, LiveOne (Nasdaq: LVO), Spotify, Apple Podcasts,
iHeartRadio, Samsung and over 150 shows exclusively available in
Tesla vehicles. PodcastOne is also the parent company of
LaunchpadOne, an innovative self-serve platform developed to
launch, host, distribute and monetize independent user-generated
podcasts. For more information, visit podcastone.com and follow us
on Facebook, Instagram, YouTube and Twitter at @podcastone.
Forward-Looking Statements All statements other
than statements of historical facts contained in this press release
are “forward-looking statements,” which may often, but not always,
be identified by the use of such words as “may,” “might,” “will,”
“will likely result,” “would,” “should,” “estimate,” “plan,”
“project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,”
“seek,” “continue,” “target” or the negative of such terms or other
similar expressions. These statements involve known and unknown
risks, uncertainties and other factors, which may cause actual
results, performance or achievements to differ materially from
those expressed or implied by such statements, including: the
Company’s reliance on one key customer for a substantial percentage
of its revenue; the Company’s ability to consummate any proposed
financing, acquisition, spin-out, special dividend, merger,
distribution or transaction, the timing of the consummation of any
such proposed event, including the risks that a condition to the
consummation of any such event would not be satisfied within the
expected timeframe or at all, or that the consummation of any
proposed financing, acquisition, spin-out, merger, special
dividend, distribution or transaction will not occur or whether any
such event will enhance shareholder value; the Company’s ability to
continue as a going concern; the Company’s ability to attract,
maintain and increase the number of its users and paid members; the
Company identifying, acquiring, securing and developing content;
the Company’s intent to repurchase shares of its and PodcastOne’s
common stock from time to time under its announced stock repurchase
program and the timing, price, and quantity of repurchases, if any,
under the program; the Company’s ability to maintain compliance
with certain debt covenants; the Company successfully implementing
its growth strategy, including relating to its technology platforms
and applications; management’s relationships with industry
stakeholders; the effects of the global Covid-19 pandemic;
uncertain and unfavorable outcomes in legal proceedings; changes in
economic conditions; competition; risks and uncertainties
applicable to the businesses of the Company’s subsidiaries; and
other risks, uncertainties and factors including, but not limited
to, those described in the Company’s Annual Report on Form 10-K for
the fiscal year ended March 31, 2023, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on June 29, 2023,
Quarterly Report on Form 10-Q for the quarter year ended September
30, 2023, filed with the SEC on November 20, 2023, and in the
Company’s other filings and submissions with the SEC. These
forward-looking statements speak only as of the date hereof, and
the Company disclaims any obligation to update these statements,
except as may be required by law. The Company intends that all
forward-looking statements be subject to the safe-harbor provisions
of the Private Securities Litigation Reform Act of 1995.
LiveOne IR
Contact: Liviakis Financial
Communications, Inc. (415) 389-4670 john@liviakis.com
Press Contact: For LiveOne
press@liveone.com
For PodcastOne 310.246.4600
Susan@Guttmanpr.com
PodcastOne (NASDAQ:PODC)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
PodcastOne (NASDAQ:PODC)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024