LMP Automotive Holdings (LMPX) to Raise $12 Million in IPO

LMP Automotive Holdings (LMPX) plans to raise $12 million in an initial public offering on Thursday, December 5th, IPO Scoop reports. The company plans to issue 2,100,000 shares at a price of $5.00-$6.00 per share.

In the last 12 months, LMP Automotive Holdings generated $13.6 million in revenue and had a net loss of $6.4 million. LMP Automotive Holdings has a market-cap of $44.5 million.

ThinkEquity (a division of Fordham Financial Management) served as the underwriter for the IPO.

LMP Automotive Holdings provided the following description of their company for its IPO: “Our goal is to provide an e-commerce and facilities-based retail platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles. We seek to provide our customers with a simple, convenient, transparent and pleasant retail experience. In addition to our current operations launched in 2017, we intend to seek strategic acquisitions of pre-owned and new automobile dealerships and car rental companies in order to facilitate efficient growth. “.

LMP Automotive Holdings was founded in 2017 and has 11 employees. The company is located at 601 N. State Road 7, Plantation FL, 33317, US and can be reached via phone at (954) 895-0352 or on the web at http://www.lmpmotors.com.

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