Russell Amends LM Funding America Stake Filing

TL;DR

Russell updated his 13D on LMFA - check for share changes.

AI Summary

Richard Russell, through an amendment filed on May 28, 2024, has updated his Schedule 13D filing concerning LM Funding America, Inc. The filing indicates a change in beneficial ownership of the company's common stock. Specific details regarding the exact percentage or number of shares changed are not explicitly stated in this amendment summary.

Why It Matters

This filing is important as it signals a potential shift in control or significant investment activity by a major shareholder in LM Funding America, Inc.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant stake changes by major investors, which can lead to increased volatility and potential strategic shifts for the company.

Key Players & Entities

• LM Funding America, Inc. (company) — Subject Company
• Richard Russell (person) — Filing Person
• May 28, 2024 (date) — Filing Date
• May 23, 2024 (date) — Date of Event

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $0.25 — 170,500 Warrants at a purchase price of $0.25 per Warrant, and each Warrant is immedi
• $42,625 — regate purchase price was approximately $42,625, 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

• sc13da2russell.htm (SC 13D/A) — 47KB
• warrantpurchaseagreement.htm (EX-99.1) — 30KB
• 0000897069-24-001192.txt ( ) — 78KB

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 23, 2024, BRRR, an entity over which Mr. Russell may be deemed to have shared voting and dispositive power, purchased Warrants to purchase 170,500 Shares of the Issuer from Mint at a purchase price of $0.25 per Warrant. The aggregate purchase price was approximately $42,625, 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 participat

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 28, 2024 /s/ Richard Russell Richard Russell

View Full Filing

View this SC 13D/A filing on SEC EDGAR