secwatch.observer — SEC 8-K summary
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Issuer:     LM FUNDING AMERICA, INC. (LMFA)
CIK:        0001640384
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0000950170-23-026538
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LM Funding acquires Symbiont assets via $2.6M credit bid; plans to commercialize blockchain platform
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- Acquired substantially all assets of bankrupt Symbiont.io (financial blockchain) for $2,589,416 via credit bid; no cash outlay.
- Assets include Assembly platform for issuing/tracking financial instruments; LMFA plans to pursue strategic partnerships.
- Symbiont had contracts with Vanguard, State Street, SWIFT; LMFA hopes to continue customer relationships.
- LMFA was Symbiont's sole secured creditor from a $2M loan in Dec 2021; credit bid extinguished the note.
- No liabilities assumed; acquisition less than 10% of LMFA's total assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1640384/000095017023026538/0000950170-23-026538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1640384/000095017023026538/lmfa-20230602.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-026538

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer