LM Funding registers $45 million stock for initial public units sale

International Assets Advisory sells units of one share and one warrant

By Devika Patel

Knoxville, Tenn., June 25 – LM Funding America, Inc. will conduct an initial public offering of units, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $45 million of stock for the sale, which includes the shares underlying the warrants.

The units will each consist of one common share and one warrant. The five-year warrants will be exercisable at 125% of the per-unit price.

International Assets Advisory, LLC is the bookrunner.

Proceeds will be used for debt retirement, general corporate purposes and growth, including working capital and acquisitions.

The specialty finance company is based in Tampa, Fla. It expects its shares will trade on the Nasdaq exchange under the symbol, “LMFA.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.