Live Oak Mobility Acquisition Corp. entered into a non-binding term sheet to acquire One Americas Holdings LLC for approximately $130 million on February 15, 2023. Under the terms of the transaction, Live Oak Mobility will pay $35 million in equity consideration based on an initial post-money enterprise value of approximately $115 million and remainder subject to price-based earnouts in following manner: 0.5 million shares would vest at a $12 per share, with 0.15 million shares going to One Americas management and 0.35 million shares to the sponsor.

A further 0.75 million shares would vest at $15 and 3 million shares in 1 million-share tranches at $20, $25 and $30. The cash proceeds will be used to pay transaction fees and expenses (including deferred underwriting expenses from Live Oak Mobility's initial public offering) and will be placed on the balance sheet of the combined company.