Lm funding announces closing of upsized $30 million underwritten public offering

Tampa, fla., oct. 19, 2021 (globe newswire) -- lm funding america, inc. (nasdaq: lmfa) (“lm funding” or the “company”), a technology-based specialty finance company that intends to expand into the cryptocurrency mining business, today announced the closing of its previously announced underwritten public offering of 6,315,780 shares of its common stock and warrants to purchase up to 6,315,780 shares of the company's common stock. each share of common stock was sold in a unit together with one common warrant at a public offering price of $4.75 per unit, for gross proceeds of approximately $30 million, before deducting underwriting discounts and offering expenses.   the common warrants have an exercise price of $5.00 per share of common stock, are immediately exercisable and will expire five years from the date of issuance. in addition, lm funding has granted the underwriters a 45-day option to purchase up to an additional 947,367 shares of common stock and/or common warrants to purchase up to 947,367 shares of common stock, at the public offering price less discounts and commissions, of which maxim group llc has exercised its option to purchase an additional 947,367 warrants.
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