- LM Funding America (NASDAQ:LMFA) trades 8.6% down premarket after pricing its underwritten public offering of 6.31M shares and warrants to purchase shares; each share is sold in a unit together with one common warrant at a public offering price of $4.75/unit.
- The warrants will be immediately exercisable at $5/share and will expire five years from issuance date.
- Offer is expected to close on or about Oct.19.
- Underwriters granted 45-day option to purchase up to an additional 947,367 shares and warrants to purchase shares.
- Gross proceeds are expected to be ~$30M; net proceeds to be used for the purchase of cryptocurrency mining equipment, funding other expenses in building out its planned cryptocurrency mining operations, and for other general corporate purposes.