REG - Craven House Capital - Acquisition of shares in LM Funding America, Inc.

Craven House CapitalAnnouncement

14/11/2018 07:05

RNS Number : 2605H
Craven House Capital PLC
14 November 2018
 


 
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
 
Craven House Capital plc
 
("Craven House" or the "Company")
 
Acquisition of shares in LM Funding America, Inc.
 
 
Craven House is pleased to announce its participation in a Public Offering for shares of LM Funding America, Inc. (NASDAQ: LMFA, "LMFA"). The Company has acquired 640,000 common shares at a price of $2.40 per share for a total consideration of c.$1.5m. The Company's position represents 31.5% of the common shares in LMFA.
 
In the year to 31 December 2017, LM Funding America made a loss before income tax of $5.2m and had total assets of $2m.
 
About LM Funding America:
LM Funding America, Inc., together with its subsidiaries, is a technology-based specialty finance company that provides funding to non-profit community associations ("Associations") primarily located in the state of Florida, as well as in the states of Washington, Colorado and Illinois. The company offers funding to Associations in return for acquiring the associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments. The company is also involved in the business of acquiring delinquent accounts on various terms tailored to suit each Association's financial needs, including under the company's New Neighbour Guaranty™ program.

 
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For further information please contact:
 



Craven House Capital Plc
Mark Pajak
www.Cravenhousecapital.com
 


Tel:   0203 286 8130
 
 




SI Capital
Broker
Nick Emerson
www.sicapital.co.uk


Tel: 01483 413500




 
SPARK Advisory Partners Limited
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com


 
Tel:   0203 368 3550
 



 
 
About Craven House Capital:
 
The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.
 
 




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