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IPO Roundup: Automotive ecommerce operator LMP Automotive Holdings goes public with $11.5M IPO

The company offered 2.3 million shares at $5 per share, the low end of its projected range

Businessman is shopping online to choose a cars to buy about internet of thing concept
LMP provides a marketplace for users to buy, sell, subscribe for or finance new and used automobiles.

LMP Automotive Holdings Inc (NASDAQ:LMPX), a Plantation, Florida-based company operating an automotive e-commerce platform, finally went public with a $11.5 million IPO.

The company originally filed with the SEC in June for a $7 million IPO, then increased and decreased again its offering size. Now, the company upped its offering by 200,000 shares to 2.3 million to maintain its offering size after pricing at $5 per share, the low end of its $5 to $6 range.

LMP provides a marketplace for users to buy, sell, subscribe for or finance new and used automobiles. The company buys automobiles from manufacturers at fleet prices, then sells or rents them to consumers.

Trading opened Thursday at $5 and has remained flattish.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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