secwatch.observer — SEC 8-K summary
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Issuer:     LM FUNDING AMERICA, INC. (LMFA)
CIK:        0001640384
Form:       8-K
Filed at:   2024-12-09T23:59:59+00:00
Accession:  0000950170-24-134614
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LM Funding closes $7.3M acquisition of 15MW Oklahoma mining site and raises $5.1M via warrant exercise
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- Acquired 15MW mining site in Oklahoma for $7.3M: $1.1M cash + $3.7M loan credit + $2.5M escrow for seller obligations.
- Site has 60MW potential with $0.04/kwh power; option to purchase underlying land after Dec 2026.
- Warrant exercise with institutional investor: 1.74M shares at $2.98, gross proceeds $5.1M; received new 5-year warrants at $2.95.
- New warrants for 3.47M shares; funds to buy more efficient miners and acquire additional sites.
- Company expects 562 petahash capacity at Oklahoma site in Q1 2025, addition to Core Scientific hosting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1640384/000095017024134614/0000950170-24-134614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1640384/000095017024134614/lmfa-20241209.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-134614

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