LMF Acquisition Opportunities, a blank check company formed by LM Funding America targeting the financial services sector, raised $90 million by offering 9 million units at $10. The company offered 1.5 million more units than anticipated. Each unit consists of one share of common stock and one whole warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol LMAOU. Maxim Group LLC acted as a lead manager on the deal.
