International Assets Advisory sells units of one share and one warrant
By Devika Patel
Knoxville, Tenn., Oct. 23 – LM Funding America, Inc. said it settled its $12 million initial public offering of units. The deal was announced on June 25.
The company sold 1.2 million units of one common share and one warrant at $10.00 per unit. The warrants are each exercisable at $12.50 for five years.
International Assets Advisory, LLC was 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.”
| Issuer: | LM Funding America, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $12 million
|
| Units: | 1.2 million
|
| Price: | $10.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $12.50
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| Bookrunner: | International Assets Advisory, LLC
|
| Announcement date: | June 25
|
| Settlement date: | Oct. 23
|
| Stock symbol: | Nasdaq: LMFA
|
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