Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Interesting Car/Truck Manufacturer News
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Weather Man" data-source="post: 16545472" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>LMP Automotive receives $192M financing for Stage 1 acquisition, shoots up positive outlook</strong></span></p><p>Dec. 22, 2020 4:25 PM ET<a href="https://seekingalpha.com/symbol/LMPX?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Csection_asset%3Ameta%7Csymbol%3ALMPX" target="_blank">LMP Automotive Holdings, Inc. (LMPX)</a><a href="https://seekingalpha.com/user/51767880/profile?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name" target="_blank">By: Shweta Agarwal</a>, SA News Editor</p><ul> <li data-xf-list-type="ul">LMP Automotive Holdings (NASDAQ:<a href="https://seekingalpha.com/symbol/LMPX?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link" target="_blank">LMPX</a>) <a href="https://seekingalpha.com/pr/18132595-lmp-automotive-holdings-inc-receives-192-million-finance-commitment-from-truist-bank-for?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link" target="_blank">says</a> it has entered into a commitment letter with Truist Bank for a $192M financing.</li> <li data-xf-list-type="ul">The financing is provided for the company's Stage 1 southeast acquisitions, which is expected to be immediately accretive to income, adding ~2,300 new and used vehicles valued at roughly $58M, report.</li> <li data-xf-list-type="ul">"We intend to use the proceeds to fund the consummation of our stage 1 acquisitions which consist of 13 dealerships, including 12 new vehicle franchises, and 6 parcels of dealership real estate totaling approximately 67 acres in the Southeast. A portion of the proceeds will be utilized for new and used vehicle floorplan plus working capital," says LMP's CEO Sam Tawfik. </li> <li data-xf-list-type="ul">The company expects Stage 1 closing to occur in Jan. 2021, subject to certain approvals.</li> <li data-xf-list-type="ul">2021 Outlook: Revenue expected to be in the range of $510-540M; Adj. EBITDA of $22-24M; EPS of $2.20 to $2.40.</li> <li data-xf-list-type="ul">"We expect 2022 full year operations attributable to this stage 1 group to produce ~$590M in revenue and $29M in adjusted EBITDA, or $2.90 per share, based on roughly 10M shares outstanding," says CFO Evan Bernstein.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16545472, member: 137766"] [size=6][b]LMP Automotive receives $192M financing for Stage 1 acquisition, shoots up positive outlook[/b][/size] Dec. 22, 2020 4:25 PM ET[URL='https://seekingalpha.com/symbol/LMPX?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Csection_asset%3Ameta%7Csymbol%3ALMPX']LMP Automotive Holdings, Inc. (LMPX)[/URL][URL='https://seekingalpha.com/user/51767880/profile?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name']By: Shweta Agarwal[/URL], SA News Editor [LIST] [*]LMP Automotive Holdings (NASDAQ:[URL='https://seekingalpha.com/symbol/LMPX?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link']LMPX[/URL]) [URL='https://seekingalpha.com/pr/18132595-lmp-automotive-holdings-inc-receives-192-million-finance-commitment-from-truist-bank-for?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link']says[/URL] it has entered into a commitment letter with Truist Bank for a $192M financing. [*]The financing is provided for the company's Stage 1 southeast acquisitions, which is expected to be immediately accretive to income, adding ~2,300 new and used vehicles valued at roughly $58M, report. [*]"We intend to use the proceeds to fund the consummation of our stage 1 acquisitions which consist of 13 dealerships, including 12 new vehicle franchises, and 6 parcels of dealership real estate totaling approximately 67 acres in the Southeast. A portion of the proceeds will be utilized for new and used vehicle floorplan plus working capital," says LMP's CEO Sam Tawfik. [*]The company expects Stage 1 closing to occur in Jan. 2021, subject to certain approvals. [*]2021 Outlook: Revenue expected to be in the range of $510-540M; Adj. EBITDA of $22-24M; EPS of $2.20 to $2.40. [*]"We expect 2022 full year operations attributable to this stage 1 group to produce ~$590M in revenue and $29M in adjusted EBITDA, or $2.90 per share, based on roughly 10M shares outstanding," says CFO Evan Bernstein. [/LIST] [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Interesting Car/Truck Manufacturer News
Top