M&A - LM FUNDING AMERICA, INC.

Form Type: 8-K/A

Filing Date: 2025-01-10

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025004240

Filing Summary: On December 6, 2024, LM Funding America, Inc. completed the acquisition of substantially all business assets of Tech Infrastructure JV I LLC for approximately $7.3 million. The purchase involved a combination of cash, credits against loans previously made to the seller, and an escrow holding. The assets acquired include certain contracts, mining equipment, and other rights. The total cash payment was around $1.1 million, with additional credits and escrow arrangements for the deal's completion. The Company also took over a lease agreement related to the property acquired, which allows the Company to purchase the land for a nominal fee under certain conditions. In a separate transaction, the Company entered into a Warrant Exercise Agreement which allowed the exercise of existing warrants for new ones at a slightly lower price, generating approximately $5.1 million in gross proceeds for working capital. The financial advisory was provided by Maxim Group LLC, who received a 6.0% fee on proceeds from the exercise of these warrants. This report also corrects the filing date and amends previously omitted details related to these transactions in the original filing of December 9, 2024.

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