LM Funding expects to price IPO of 2 million units at $10.00 per unit

International Assets Advisory sells units of one share and one warrant

By Devika Patel

Knoxville, Tenn., Aug. 7 – LM Funding America, Inc. will sell 2 million units in its initial public offering, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The company has registered up to $40 million of stock for the sale, which includes the shares underlying the warrants. The deal was announced on June 25.

The units of one common share and one warrant will be sold at an expected price of $10.00 per unit. The five-year warrants will be exercisable at 125% of the per-unit price, for an expected strike price of $12.50.

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.”

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