UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2022

LIVEONE, INC.

(Exact name of registrant as specified in its charter)

269 South Beverly Drive, Suite 1450

Beverly Hills, CA 90212

(Address of principal executive offices) (Zip Code)

(310) 601-2505

(Registrant’s telephone number, including area code)

n/a

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On August 4, 2022, LiveOne, Inc.’s (the “Company”) wholly owned subsidiary, Slacker, Inc. (“Slacker”), extended for 3 years (the “Extended Term”) its agreement (the “Agreement”) with a certain licensor of sound recordings and music content rights (the “music partner”), and the Company issued 800,000 shares of its common stock to the music partner to be credited against music royalty payments due under the Agreement, subject to the terms thereof, of which approximately $400,000 worth of its shares of common stock were issued at a price of $2.10 per share as full payment of certain outstanding amounts due the original agreement and as full payment of any music royalty payments due during the first year of the Extended Term.

Pursuant to the Agreement the shares of common stock issued to the music partner towards music royalty payments due under the Agreement during the second and third years of the Extended Term will be valued as provided in the Agreement. The music partner agreed not to sell the shares of the Company’s common stock issued pursuant to the Agreement subject to certain dribble-out limitations. The shares were issued pursuant to an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation D promulgated thereunder.

Effective as of August 4, 2022, the Company extended the maturity date of its revolving credit facility with East West Bank to June 2024. The credit facility was originally entered into effective as of June 7, 2021.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated herein by reference.

Item 3.02 Unregistered Sales of Equity Securities.

The information set forth in Item 1.01 above is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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