Lm funding america announces pricing of registered direct offering for aggregate gross proceeds of $2.6 million

Tampa, fla., aug. 16, 2024 (globe newswire) -- lm funding america, inc. (nasdaq: lmfa) (“lm funding” or the “company”), a cryptocurrency mining and technology-based specialty finance company, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 278,000 shares of common stock and 605,000 pre-funded warrants in a registered direct offering, along with series a warrants to purchase up to an aggregate of 883,000 shares of common stock and series b warrants to purchase up to an aggregate of 883,000 shares of common stock in a concurrent private placement. the combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying series a and b warrants is $2.93. the series a and b warrants will have an exercise price of $2.93, be exercisable beginning on the effective date of stockholder approval and, in the case of series a warrants, will expire on the five-year anniversary from the date of stockholder approval, and in the case of series b warrants, will expire on the two-year anniversary from the date of stockholder approval.
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