LiveOne Extends PodcastOne Spin-Out Date to April 20
LiveOne states that its previously announced plan to spin-out PodcastOne as a separate, publicly traded company is being extended to April 20. LiveOne also says that it anticipated that shares will open at between $8 and $12 per share. The good news for LiveOne shareholders is the company expects to increase the dividend of PodcastOne shares to between 12% and 16%. After completion of the successful spin-out – which the company notes is not guaranteed to happen – LiveOne will own approximately 86.3% of the PodcastOne common stock. LiveOne also reports that PodcastOne has repaid $1 million of its debt convertible at $3 and expects to repay an additional $1 million to $2 million. LiveOne intends for PodcastOne stock to be traded on the Nasdaq Capital Market under the ticker symbol PODC.