TAMPA, Fla., Dec. 08, 2015 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFAU ) (NASDAQ: LMFA ) (NASDAQ: LMFAW ), a specialty finance company offering unique funding solutions to community associations, has completed the separation of the units issued in the initial public offering on October 23, 2015.
Each unit was comprised of one share of the company’s common stock and one warrant to purchase one share of the company’s common stock at an exercise price of $12.50 per share. The warrants are exercisable through November 30, 2020.
In connection with the separate trading of the common stock and warrants, the company’s units will no longer be traded on Nasdaq - instead the common stock and warrants which formerly comprised the company’s units have begun trading separately on the Nasdaq Capital Market under the symbol “LMFA” and “LMFAW”, respectively.
A registration statement relating to the units has been filed with and declared effective by the U.S. Securities and Exchange Commission (“SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale, of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About LM Funding America
LM Funding America, Inc., together with its subsidiaries, is a specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington and Colorado. The company offers funding to Associations by purchasing a certain portion of the associations’ rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments. It is also involved in the business of purchasing delinquent accounts on various terms tailored to suit each Association’s financial needs, including under its New Neighbor Guaranty™ program. The company was founded in 2008 and is based in Tampa, Florida. The company's common shares and warrants trade on the NASDAQ Capital Market under the symbols "LMFA" and "LMFAW”.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company’s filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company’s business, financial condition, and results of operations.
Company Contact: Bruce Rodgers Chairman and CEO LM Funding America, Inc. Tel (813) 222-8996 investors@lmfunding.com Investor Relations Contact: Michael Koehler Liolios Group, Inc. Tel (949) 574-3860 LMFA@liolios.com
