Lm funding announces purchase of loan receivables

Tampa, fl / accesswire / december 21, 2020 / lm funding america, inc. (nasdaq:lmfa) ("lm funding" or "lmfa"), a technology-based specialty finance company, today announced that it has entered into a master loan receivable purchase and assignment agreement under which lmfa will purchase, through a wholly owned subsidiary, up to approximately $18 million in the aggregate of loan receivables of borqs technologies, inc. (brqs) ("borqs") from borqs' senior lender. as a part of the transaction, lmfa has entered into a settlement agreement with borqs pursuant to which borqs will issue shares of borqs common stock to lmfa (the "settlement shares"), in one or more tranches, in settlement of the loan receivables acquired by lmfa (the "settlement agreement").
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