LiveOne and Roth CH Acquisition V announced that they have entered into a letter of intent to merge LiveOne's wholly-owned subsidiary, Slacker, with the SPAC at a pre money valuation of $160 million, subject to completion of diligence and definitive documentation.
If the deal is completed, LiveOne is expected to own the majority of the 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 content.
The parties said they anticipate being in a position to close the proposed merger in the fourth quarter.
Slacker Radio is a membership music streaming service that was launched in 2007 and is known for its personalized radio stations. Slacker currently has a paid and free ad-supported membership base of more than 3 million, according to a pres release. Read more.
Source: Roth CH Acquisition V Inks LOI with LiveOne's Slacker Radio