LMP Announces Pricing of Initial Public Offering
PLANTATION, FL / ACCESSWIRE / December 5, 2019 / LMP Automotive Holdings, Inc. (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the pricing of its initial public offering of 2,300,000 shares of its common stock at a public offering price of $5.00 per share, for gross proceeds of $11,500,000, before deducting offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 345,000 shares of common stock at the initial public offering price, less the underwriting discount.
The shares are expected to begin trading on the Nasdaq Capital Market on December 5, 2019 under the ticker symbol "LMPX." The offering is expected to close on December 9, 2019, subject to satisfaction of customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc. is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-232172) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on December 4, 2019. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think-equity.com.
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.
Media Contact:
John Mattio
President and Founder
Lamnia Communicating Finance
(203) 885-1058
jmattio@lamniacom.com
SOURCE: LMP Automotive Holdings, Inc.
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