Lmp Automotive Holdings Inc

NASDAQ:LMPX   3:59:41 PM EDT
12.81
-0.62 (-4.62%)
Debt Financing / Related, Mergers / Acquisitions

LMP Announces A Acquisition Agreement For 85% Of Two Chrysler Jeep Dodge Ram Dealerships In New York

Published: 03/30/2021 12:18 GMT
Lmp Automotive Holdings Inc (LMPX) - Lmp Announces a Definitive Acquisition Agreement for 85% of Two Chrysler Jeep Dodge Ram Dealerships in New York Generating Approximately $270 Million in Annualized Revenue.
Lmp Automotive Holdings - Deal to Be Funded Through Lmp's Balance Sheet Along With 25% in Common Stock.
Lmp Automotive Holdings - Expect That Upon Closing It Will Increase Company's Revenue by Approximately 51%.
Lmp Automotive - Expect Upon Closing It Will Be Immediately Accretive to Pre-tax Income by About $5.6 Million Post Minority Interest on Annualized Basis.