LM Funding America Enters Material Definitive Agreement
Ticker: LMFA · Form: 8-K · Filed: Aug 19, 2024 · CIK: 1640384
Sentiment: neutral
Topics: material-definitive-agreement, equity-securities, regulation-fd
TL;DR
LM Funding America signed a new deal on Aug 16th, likely involving stock sales.
AI Summary
LM Funding America, Inc. entered into a Material Definitive Agreement on August 16, 2024, related to unregistered sales of equity securities. The filing also includes disclosures under Regulation FD and other events, along with financial statements and exhibits. The company is incorporated in Delaware and headquartered in Tampa, Florida.
Why It Matters
This filing indicates a significant new agreement for LM Funding America, potentially impacting its equity structure and financial operations.
Risk Assessment
Risk Level: medium — The filing details unregistered sales of equity securities, which can introduce dilution and regulatory scrutiny.
Key Numbers
- 001-37605 — SEC File Number (Identifies the company's filing history with the SEC.)
- 1231 — Fiscal Year End (Indicates the end of the company's financial reporting year.)
Key Players & Entities
- LM Funding America, Inc. (company) — Registrant
- August 16, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- Tampa, Florida (location) — Principal Executive Offices
FAQ
What type of Material Definitive Agreement was entered into by LM Funding America, Inc.?
The filing indicates the agreement is related to unregistered sales of equity securities.
On what date was the earliest event reported in this 8-K filing?
The earliest event reported was on August 16, 2024.
In which state is LM Funding America, Inc. incorporated?
LM Funding America, Inc. is incorporated in Delaware.
What is the principal executive office address for LM Funding America, Inc.?
The principal executive office is located at 1200 West Platt Street, Suite 100, Tampa, Florida 33606.
What is the SEC file number for LM Funding America, Inc.?
The SEC file number for LM Funding America, Inc. is 001-37605.
Filing Stats: 2,198 words · 9 min read · ~7 pages · Grade level 13.8 · Accepted 2024-08-19 16:19:00
Key Financial Figures
- $0.001 — hich registered Common Stock par value $0.001 per share LMFA The Nasdaq Stock Mar
- $0.0001 — ed Warrants") with an exercise price of $0.0001 per share, and (ii) in a concurrent pri
- $2.98 — rants"), each with an exercise price of $2.98. Such registered direct offering and co
- $2.6 m — from the Transactions of approximately $2.6 million, before deducting fees to the Pla
- $60,000 — s expenses in an aggregate amount up to $60,000. The Placement Agency Agreement conta
Filing Documents
- d837824d8k.htm (8-K) — 44KB
- d837824dex11.htm (EX-1.1) — 64KB
- d837824dex41.htm (EX-4.1) — 91KB
- d837824dex42.htm (EX-4.2) — 88KB
- d837824dex43.htm (EX-4.3) — 79KB
- d837824dex51.htm (EX-5.1) — 14KB
- d837824dex101.htm (EX-10.1) — 205KB
- d837824dex231.htm (EX-23.1) — 2KB
- d837824dex991.htm (EX-99.1) — 9KB
- g837824g0819070034994.jpg (GRAPHIC) — 3KB
- 0001193125-24-202826.txt ( ) — 883KB
- lmfa-20240816.xsd (EX-101.SCH) — 3KB
- lmfa-20240816_lab.xml (EX-101.LAB) — 18KB
- lmfa-20240816_pre.xml (EX-101.PRE) — 11KB
- d837824d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 1.1 Placement Agency Agreement, dated August 16, 2024, by and among the Company and Maxim Group LLC 4.1 Form of Series A Common Warrant 4.2 Form of Series B Common Warrant 4.3 Form of Pre-Funded Warrant 5.1 Opinion of Foley & Lardner LLP 10.1 Form of Securities Purchase Agreement, dated August 16, 2024, by and between LM Funding America, Inc. and Purchaser (as defined therein). 23.1 Consent of MaloneBailey, LLP 23.2 Consent of Foley & Lardner LLP (including in Exhibit 5.1) 99.1 Press Release, dated August 16, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to the Company's expectations regarding the use of proceeds from the Transactions. These statements involve risks and uncertainty. Words such as "anticipate," "estimate," "expect," "intend," "plan," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on the Company's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. Investors should refer to the risks detailed from time to time in the reports the Company files with the SEC, including in the prospectus supplement for the Transactions and in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
SIGNATURES
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. LM Funding America, Inc. Date: August 19, 2024 By: /s/ Richard Russell Richard Russell, Chief Financial Officer