LMF Acquisition Opportunities, a blank check company formed by LM Funding America targeting the financial services sector, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
The Tampa, FL-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit will consist of one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, LMF Acquisition Opportunities will command a $95 million market value.
The company is led by CEO and Chairman Bruce Rodgers, who has served as Chairman and CEO of LM Funding America (Nasdaq: LMFA) since 2015, and CFO and Director Richard Russell, who has served as CFO of LMFA since 2017. LMF Acquisition Opportunities intends to target businesses in the financial services industry and related sectors, including potentially the FinTech sector, with enterprise values between $250 million and $500 million.
LMF Acquisition Opportunities was founded in 2020 and plans to list on the Nasdaq under the symbol LMAOU. Maxim Group LLC is the sole bookrunner on the deal.
