April 23, 2024

Get Auto Tips

For Glorious Car

LMP Automotive Holdings, Inc. Announces its Affiliates Entered into All-Cash Sale Agreements for its Remaining Dealership and its Associated Real Estate

LMP Automotive Holdings, Inc. Announces its Affiliates Entered into All-Cash Sale Agreements for its Remaining Dealership and its Associated Real Estate

LMP Automotive Holdings, Inc.

LMP Automotive Holdings, Inc.

FORT LAUDERDALE, Fla., Sept. 14, 2022 (World NEWSWIRE) — LMP Automotive Holdings, Inc. (“LMP” or the “Company”), an e-commerce and facilities-dependent automotive retailer in the United States, nowadays announced it has entered into dealership and authentic estate sale agreements (the “Agreements”) to provide its Greenville, Tennessee dealership and its linked serious estate (the “Sale”).
The Company anticipates that the expected closing of the Sale will happen in November of this 12 months, topic to the conditions of the Agreements and a lot of conditions precedent to Closing such as but not limited to getting regulatory acceptance.

Sam Tawfik, the Company’s Chairman and Chief Executive Officer commented, “With our present income posture, which continues to develop as we create gains and modest leverage, we are committed to responsibly handling our organization and prudently building benefit for our shareholders.”

“We carry on to think that our stock value does not mirror the web asset worth of our firm and imagine that this transaction along with the sale of our remaining assets will permit us to increase stockholder worth.”

“The Board and the administration staff all feel that, supplied the diversified character of our portfolio, pursuing a number of transactions with distinct probable consumers for property or teams of assets provides the best chance to improve stockholder worth,” said Sam Tawfik, Main Executive Officer and Chairman.

ABOUT LMP AUTOMOTIVE HOLDINGS, INC.
LMP Automotive Holdings, Inc. offers a broad array of products and providers satisfying the full vehicle ownership lifecycle, which include new and used cars, finance and coverage products and solutions and automotive repair and routine maintenance.
Our proprietary e-commerce technological innovation and strategy are developed to disrupt the business by leveraging our professional groups, growing assortment of owned inventories and physical logistics community. We seek to deliver prospects with a seamless knowledge each on-line and in particular person. Our bodily logistics network enables us to supply practical totally free delivery factors for prospects and offer expert services throughout the complete ownership lifetime cycle. We use digital technologies to lessen our consumer acquisition fees, reach operational efficiencies and crank out extra revenues. Our unique advancement model generates important hard cash flows, which funds our innovation and growth into new geographical marketplaces, along with strategically building out dealership networks, generating personal transportation solutions that shoppers motivation.

Investor Relations:
LMP Automotive Holdings, Inc.
500 East Broward Boulevard, Suite 1900
Fort Lauderdale, FL 33394
[email protected]  
For far more information pay a visit to: lmpmotors.com

Ahead-Looking STATEMENTS:
This press launch may perhaps incorporate “forward-looking statements” within the meaning of Portion 27A of the Securities Act of 1933 and Section 21E of the Securities Trade Act of 1934, every single as amended. These statements incorporate, but are not restricted to, any statements relating to our expectations, beliefs, projections, foreseeable future programs and tactics, predicted events or traits and comparable matters that are not historical details. These statements may well be preceded by, followed by or consist of the words and phrases “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 phrases and terms of identical meanings. These ahead-searching statements are dependent on the Company’s recent anticipations and beliefs concerning long run developments and their opportunity consequences on the Enterprise or any successor entity of the transaction and consist of statements relating to the envisioned timing of closing the transaction. Numerous aspects could induce true foreseeable future functions to differ materially from the ahead-hunting statements in this push release, such as but not restricted to: (i) the possibility that the Sale may possibly not be done in a well timed fashion or at all, (ii) the failure to satisfy the ailments to the consummation of the Sale, (iii) the event of any party, improve or other circumstance that could give increase to the termination of the Agreements, (iv) the effect of the announcement or pendency of the Sale on the Company’s small business relationships, running final results and small business typically, and (v) risks that the Sale disrupts current options and functions of the Corporation. There is no assurance that any forward-hunting statements will materialize. You are cautioned not to location undue reliance on ahead-wanting statements, which mirror expectations only as of this date. We expressly disclaim any obligation or endeavor to release publicly any updates or revisions to any forward-hunting statements contained herein to replicate any change in our anticipations or any changes in situations, situations or instances on which any such assertion is based mostly, apart from as necessary by law.