Russell Amends LM Funding America Stake Filing
Ticker: LMFA · Form: SC 13D/A · Filed: May 23, 2024 · CIK: 1640384
| Field | Detail |
|---|---|
| Company | Lm Funding America, INC. (LMFA) |
| Form Type | SC 13D/A |
| Filed Date | May 23, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.001, $0.265, $178,333, $30.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: LMFA
TL;DR
Russell updated his 13D on LM Funding America (LMFA) - watch for ownership changes.
AI Summary
Richard Russell, through an amendment filed on May 23, 2024, has updated his Schedule 13D filing concerning LM Funding America, Inc. The filing indicates a change in his beneficial ownership of the company's common stock. Specific details regarding the exact percentage or number of shares owned are not explicitly stated in this amendment, but it signifies an ongoing disclosure requirement for significant shareholders.
Why It Matters
This filing indicates a change in beneficial ownership for a significant shareholder of LM Funding America, Inc., which could signal shifts in control or investment strategy.
Risk Assessment
Risk Level: medium — Schedule 13D filings often relate to significant ownership stakes, which can imply potential influence or changes in company control, thus carrying a medium risk.
Key Players & Entities
- Richard Russell (person) — Filing person and beneficial owner
- LM Funding America, Inc. (company) — Subject company
- May 23, 2024 (date) — Date of filing amendment
- May 21, 2024 (date) — Date of event requiring filing
FAQ
What specific changes in beneficial ownership are reported in this amendment?
This amendment (No. 1) to Schedule 13D does not explicitly detail the specific changes in the number of shares or percentage of beneficial ownership. It serves as an update to a previously filed statement.
Who is the filing person for this Schedule 13D/A?
The filing person is Richard Russell.
What is the CUSIP number for LM Funding America, Inc. common stock?
The CUSIP number for LM Funding America, Inc. common stock is 502074404.
When was the event that required this Schedule 13D filing?
The date of the event which requires filing of this statement is May 21, 2024.
What is the business address of LM Funding America, Inc. as listed in the filing?
The business address of LM Funding America, Inc. is 1200 West Platt Street, Suite 100, Tampa, Florida 33606.
Filing Stats: 1,713 words · 7 min read · ~6 pages · Grade level 9.3 · Accepted 2024-05-23 16:55:43
Key Financial Figures
- $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
- $0.265 — 673,333 Warrants at a purchase price of $0.265 per Warrant, and each Warrant is immedi
- $178,333 — regate purchase price was approximately $178,333, and the Warrants have an exercise pric
- $30.00 — the Warrants have an exercise price of $30.00 per Share and are immediately exercisab
Filing Documents
- sc13darussell52124.htm (SC 13D/A) — 49KB
- ex1warrantpurchaseagreeement.htm (EX-99.1) — 26KB
- 0000897069-24-001163.txt ( ) — 76KB
of this Schedule 13D is hereby being amended to add the following information
Item 3 of this Schedule 13D is hereby being amended to add the following information : On May 21, 2024, BRRR, an entity over which Mr. Russell may be deemed to have shared voting and dispositive power, purchased Warrants to purchase 673,333 Shares of the Issuer from Mint at a purchase price of $0.265 per Warrant. The aggregate purchase price was approximately $178,333, and the Warrants have an exercise price of $30.00 per Share and are immediately exercisable. The Warrants will expire on October 19, 2026. The foregoing description of the Warrant Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Warrant Purchase Agreement, a copy of which is filed as Exhibit 1 hereto and incorporated herein by reference. Item 4. Purpose of Transaction . Reference is made to Item 3, which is hereby incorporated by reference. All of the shares of Issuer Common Stock were acquired for investment purposes. Mr. Russell intends to evaluate his holdings in the Issuer on an ongoing basis. Mr. Russell may, from time to time, acquire additional Shares or other securities of the Issuer. In addition, he may dispose of any or all securities of the Issuer in any manner permitted by applicable securities laws. Such decisions will be based on various factors, including, without limitation, market conditions, the price at which such shares can be purchased or sold, the financial condition and prospects of the Issuer, general economic, financial, market and industry conditions, and Mr. Russell's personal financial condition. Pursuant to Mr. Russell's continued service as Chief Financial Officer of the Issuer, Mr. Russell may receive future equity awards from the Issuer in accordance with the applicable compensation plans, as may be in effect from time to time. As Chief Financial Officer of the Issuer, Mr. Russell is involved in the oversight and management of the Issuer and setting policy for the Issuer. Mr. Russell particip
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 23, 2024 /s/ Richard Russell Richard Russell