LM Funding America amended a registration statement regarding the sale of certain securities.
The aggregate maximum offering price was lowered to $17.6 million from $20 million, estimated solely to calculate the registration fees.
The registration covers 9.7 million units consisting of one common share and one common warrant to purchase one common share. The common warrants will be exercisable immediately and will expire after five years from the original issuance date.
The company is also offering up to 9.7 million pre-funded units to buyers who, together with its affiliates and certain related parties, will own beneficially more than 4.99% of the company's common stock immediately after the offering. Each pre-funded unit consists of one pre-funded warrant to purchase one common share, and one common warrant to purchase one common share. The pre-funded warrants expire when exercised in full.