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LMP Automotive Closes on $192 Million Credit Facility to Bolster Acquisitions in the U.S.
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Pryor Cashman client LMP Automotive Holdings, Inc. (NASDAQ: LMPX), recently completed a $192 million credit facility in order to successfully close on its numerous stage one acquisitions. Truist acted as the placement agent. According to the press release:
Revenues are expected to increase over 700% this month compared to [the LMP] average month in the third quarter of 2020, as a result of these closings, which are expected to be immediately accretive to income.
A longtime client of the firm, LMP was represented by partners David C. Rose, Ali Panjwani, with assistance from Eric J. Wisotsky.
Learn more about the announcement in the below link.
