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Investor buys 9% stake in LM Funding America

An investor bought a 9.2% stake in LM Funding America, making it one of the largest stockholders of the specialty finance company.

Thomson Group International LLC bought 284,504 common shares of the company, according to a regulatory filing. LM Funding America's largest stockholder is Craven House Capital PLC with a 26.12% stake, followed by CGR63 LLC, which owns a 6.99% stake, based on S&P Global Market Intelligence data.

Nasdaq recently informed LM Funding America that it is not in compliance with the $1.00-per-share minimum bid price rule. The company has until March 23, 2020, to regain compliance with the rule.