LMP Automotive Holdings, Inc. Announces its Board of Directors Approved an Immediate Pursuit of Strategic Alternatives Including a Sale of the Company
16 Fevereiro 2022 - 8:00AM
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Company” or
“LMP”), an e-commerce and facilities-based automotive retailer in
the United States, today announced its board of directors approved
an immediate pursuit of strategic alternatives including a sale of
the company.
Sam Tawfik, LMP’s Chief Executive Officer, stated, “The Company
intends to terminate all of its pending acquisitions in accordance
with the terms of their respective acquisition agreements,
primarily due to the inability to secure financial commitments and
close within the timeframes set forth in such agreements.”
“The Board of Directors believes that LMP’s current stock price
does not reflect the Company’s fair value. Given the record M&A
activity in our sector and multiples being paid for these
transactions, LMP’s Board of Directors has directed management to
immediately pursue strategic alternatives, including a potential
sale of the Company.”
ABOUT LMP AUTOMOTIVE HOLDINGS,
INC. LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a
growth company with a long-term plan to profitably consolidate and
partner with automotive dealership groups in the United States. We
offer a wide array of products and services fulfilling the entire
vehicle ownership lifecycle, including new and used vehicles,
finance and insurance products and automotive repair and
maintenance.
Our proprietary e-commerce technology and
strategy are designed to disrupt the industry by leveraging our
experienced teams, growing selection of owned inventories and
physical logistics network. We seek to provide customers with a
seamless experience both online and in person. Our physical
logistics network enables us to provide convenient, free delivery
points for customers and provide services throughout the entire
ownership life cycle. We use digital technologies to lower our
customer acquisition costs, achieve operational efficiencies and
generate additional revenues. Our unique growth model generates
significant cash flows, which funds our innovation and expansion
into new geographical markets, along with strategically building
out dealership networks, creating personal transportation solutions
that consumers desire.
FORWARD-LOOKING STATEMENTS:This press release
may contain “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, each as amended. Such statements
include, but are not limited to, any statements relating to our
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar matters that are not
historical facts. These statements may be preceded by, followed by
or include the words “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,”
“potential,” “project,” “projection,” “seek,” “can,” “could,”
“may,” “should,” “would,” will,” the negatives thereof and other
words and terms of similar meanings. Forward-looking statements are
based on management’s current expectations and are subject to risks
and uncertainties that could negatively affect our business,
operating results, financial condition, and stock value. Factors
that could cause actual results to differ materially from those
currently anticipated include: our dependence upon external sources
for the financing of our operations; our ability to effectively
executive our business plan; our ability to maintain and grow our
reputation and to achieve and maintain the market acceptance of our
services and platform; our ability to manage the growth of our
operations over time; our ability to maintain adequate protection
of our intellectual property and to avoid violation of the
intellectual property rights of others; our ability to maintain
relationships with existing customers and automobile suppliers, and
develop relationships; and our ability to compete and succeed in a
highly competitive and evolving industry; as well as other risks
described in our SEC filings. There is no assurance that any
forward-looking statements will materialize. You are cautioned not
to place undue reliance on forward-looking statements, which
reflect expectations only as of this date. We expressly disclaim
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
Investor Relations:
LMP Automotive Holdings, Inc.
500 East Broward Boulevard, Suite 1900
Fort Lauderdale, FL 33394
investors@lmpah.com
For more information visit: https://lmpmotors.com/.
LMP Automotive (NASDAQ:LMPX)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
LMP Automotive (NASDAQ:LMPX)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024