Live Oak Acquisition Corp. II announced that it has entered into subscription agreements with two investors for a private placement of an aggregate of 1,800,000 shares of class A common stock at a price of $10 per share for aggregate gross proceeds of $18,000,000 on October 6, 2021. The transaction will include participation from Navitas Semiconductor, Inc. and returning investor Live Oak Sponsor Partners II, LLC.

The closing of the transaction will take place substantially concurrently with the closing of the business combination and is contingent upon, among other customary closing conditions, the subsequent consummation of the business combination.