secwatch.observer — SEC 8-K summary
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Issuer:     LM FUNDING AMERICA, INC. (LMFA)
CIK:        0001640384
Form:       8-K
Filed at:   2024-03-08T23:59:59+00:00
Accession:  0000950170-24-028375
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.03, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LM Funding announces 1-for-6 reverse stock split to meet Nasdaq's $1 bid price requirement effective March 12, 2024
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- Reverse split ratio 1:6, effective 12:01 a.m. ET on March 12, 2024; no change to authorized shares.
- Split to ensure compliance with Nasdaq continued listing minimum bid price of $1.00 per share.
- Chairman cites Q3 2023 revenue growth of 1700% YoY and stockholders' equity of $35.9M as of Sept 30, 2023.
- No fractional shares; round up to next whole share; new CUSIP 502074503.
- Shareholders approved reverse split range 1:2 to 1:10 at Nov 9, 2023 meeting; Board set ratio on Feb 23, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1640384/000095017024028375/0000950170-24-028375-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1640384/000095017024028375/lmfa-20240307.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-028375

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