30th Aug 2019 18:15
(Alliance News) - Merchant bank Craven House Capital PLC said Friday it took its stake in LM Funding America Inc to 26% following a further share acquisition.
Craven House bought 44,366 shares in LM for an unspecified amount. This acquisition takes its total holding to 818,675 shares, equivalent to a 26% stake.
In January, Craven House said it held a convertible note related to its sale of IIU Inc to LM for USD3.6 million. These notes can be settled either in cash or shares in LM at a price of USD2.41 each.
Should all these notes be converted to LM shares, Craven House will acquire a further 1.5 million shares in LM taking its stake to 2.3 million shares or a 49.9% stake.
Shares in Craven House closed untraded at USD2.70 in London on Friday.
Related Shares:
Craven House Capital