Lm funding america enters into warrant exercise transaction for gross proceeds of $5.1 million

Tampa, fla., dec. 09, 2024 (globe newswire) -- lm funding america, inc. (nasdaq: lmfa) (“lm funding” or the “company”), a cryptocurrency mining and technology-based specialty finance company, announced today that it has entered into a warrant exercise agreement with a single institutional investor that is an existing holder of its common stock warrants wherein the investor agreed to exercise 1,736,370 outstanding common stock warrants (the “existing warrants”) to purchase an aggregate of 1,736,370 shares of common stock for cash at the exercise price of $2.98 per share. the existing warrants were previously issued in a private placement which closed in august 2024. in consideration for the immediate exercise of the existing warrants, the exercising holder received new unregistered common stock warrants (the “new warrants”) to purchase an aggregate of 3,472,740 shares of common stock. the new warrants will have an exercise price of $2.95 per share and will be immediately exercisable for a period of five years from the issuance date.
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