LMF Acquisition Opportunities, Inc. (NASDAQ: LMAO) (LMAO), a
special purpose acquisition company sponsored by LM Funding
America, Inc. (NASDAQ: LMFA), and SeaStar Medical, Inc., a medical
technology company developing proprietary solutions to reduce the
consequences of hyperinflammation on vital organs, today announced
that LMAO stockholders voted to approve the previously proposed
business combination with SeaStar Medical at LMAO’s special meeting
of LMAO stockholders (the “Special Meeting”) held earlier today,
October 18, 2022.
More than 96% of the votes cast at the meeting voted to approve
the business combination with SeaStar Medical. Holders of
approximately 79% of LMAO’s issued and outstanding shares cast
votes at the Special Meeting.
The business combination is expected to close upon satisfaction
of all closing conditions, at which time LMAO will be renamed
“SeaStar Medical Holding Corporation” and the company’s common
stock and warrants are expected to begin trading on Nasdaq under
the new ticker symbols "ICU" and “ICUCW,” respectively.
The formal results of the vote will be included in a Current
Report on Form 8-K to be filed by LMAO with the U.S. Securities and
Exchange Commission, which will be available at www.sec.gov.
About SeaStar Medical, Inc.
Denver-based SeaStar Medical, Inc. is a medical technology
company that is focusing on redefining how extracorporeal therapies
may reduce the consequences of excessive inflammation on vital
organs. SeaStar Medical’s novel technologies rely on science and
innovation to provide life-saving solutions to critically ill
patients. It is developing and commercializing extracorporeal
therapies that target the effector cells that drive systemic
inflammation, causing direct tissue damage and secreting a range of
pro-inflammatory cytokines that initiate and propagate imbalanced
immune responses. For more information
visit http://www.seastarmedical.com/ or visit us
on LinkedIn or Twitter.
About LMF Acquisition Opportunities, Inc.
LMF Acquisition Opportunities, Inc. (Nasdaq: LMAO) is a special
purpose acquisition company formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization, or similar business combination with one or more
businesses. LMAO is led by Bruce M. Rodgers, Chief Executive
Officer, and Chairman of the Board. For more information,
visit www.lmfacquisitions.com.
About LM Funding America, Inc.
LM Funding America, Inc., (Nasdaq: LMFA) together with its
subsidiaries, is a cryptocurrency mining business that commenced
Bitcoin mining operations in September 2022. The Company also
operates a technology-based specialty finance company that provides
funding to nonprofit community associations (Associations)
primarily located in the state of Florida, as well as in the states
of Washington, Colorado, and Illinois, by funding a certain portion
of the Associations' rights to delinquent accounts that are
selected by the Associations arising from unpaid Association
assessments.
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1955.
These forward-looking statements include, without limitation,
LMAO’s and SeaStar Medical’s expectations with respect to the
proposed business combination between LMAO and SeaStar Medical,
including statements regarding the benefits of the transaction, the
anticipated timing of the transaction, the implied valuation of
SeaStar Medical, the products offered by SeaStar Medical and the
markets in which it operates, and SeaStar Medical’s projected
future results. Words such as “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions are
intended to identify such forward-looking statements.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results. Most of
these factors are outside LMAO’s and SeaStar Medical’s control and
are difficult to predict. Factors that may cause actual future
events to differ materially from the expected results, include, but
are not limited to: (i) the risk that the business combination
transaction between SeaStar Medical and LMAO may not be completed
in a timely manner or at all, which may adversely affect the price
of LMAO’s securities, (ii) the risk that the transaction may not be
completed by LMAO’s business combination deadline, even if extended
by its sponsor, (iii) the failure to satisfy the conditions to the
consummation of the transaction and the satisfaction of the minimum
trust account amount following redemptions by LMAO’s public
stockholders, (iv) the occurrence of any event, change or other
circumstance that could give rise to the termination of the
agreement and plan of merger, (v) the receipt of an unsolicited
offer from another party for an alternative transaction that could
interfere with the business combination, (vi) the effect of the
announcement or pendency of the transaction on SeaStar Medical’s
business relationships, performance, and business generally, (vii)
the inability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition and the ability of the post-combination company to grow
and manage growth profitability and retain its key employees,
(viii) costs related to the business combination, (ix) the outcome
of any legal proceedings that may be instituted against SeaStar
Medical or LMAO following the announcement of the proposed business
combination, (x) the ability to maintain the listing of LMAO’s
securities on the Nasdaq, (xi) the ability to implement business
plans, forecasts, and other expectations after the completion of
the proposed business combination, and identify and realize
additional opportunities, (xii) the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which SeaStar Medical operates, (xiii) the risk that SeaStar
Medical and its current and future collaborators are unable to
successfully develop and commercialize SeaStar Medical’s products
or services, or experience significant delays in doing so,
including failure to achieve approval of its products by applicable
federal and state regulators, (xiv) the risk that SeaStar Medical
may never achieve or sustain profitability; (xv) the risk that
SeaStar Medical may need to raise additional capital to execute its
business plan, which many not be available on acceptable terms or
at all; (xvi) the risk that third-parties suppliers and
manufacturers are not able to fully and timely meet their
obligations, (xvii) the risk of product liability or regulatory
lawsuits or proceedings relating to SeaStar Medical’s products and
services, (xviii) the risk that SeaStar Medical is unable to secure
or protect its intellectual property, (xix) the risk that the
post-combination company’s securities will not be approved for
listing on Nasdaq or if approved, maintain the listing and (xx)
other risks and uncertainties indicated from time to time in LMAO’s
registration statement on Form S-4, as amended (File No.
333-264993), including those under the “Risk Factors” section
therein and in LMAO’s other filings with the SEC. The foregoing
list of factors is not exhaustive. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and SeaStar Medical
and LMAO assume no obligation and do not intend to update or revise
these forward-looking statements, whether as a result of new
information, future events, or otherwise.
Important Information and Where to Find
It
In connection with the business
combination transaction, LMAO has filed a registration
statement on Form S-4 (the “Registration Statement”) with the SEC,
which includes the proxy statement relating to LMAO’s solicitation
of proxies for the vote by LMAO’s stockholders with respect to the
transaction, as well as the prospectus relating to the offer.
Investors and security holders and other interested parties
are urged to read the proxy statement/prospectus, any amendments
thereto and any other documents filed with the SEC carefully and in
their entirety because they contain important information about
LMAO, SeaStar Medical and the transaction.
Investors and security holders may obtain free copies of the proxy
statement/prospectus and other documents filed with the U.S.
Securities and Exchange Commission (the “SEC”) by LMAO through the
website maintained by the SEC at http://www.sec.gov, or by
directing a request to: LMF Acquisition Opportunities, Inc., 1200
Platt Street, Suite 1000 Tampa, FL 33602.
No Offer or Solicitation
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
U.S. Securities Act of 1933, as amended.
Media Relations Contact:Patty
CaballeroEmail: patty@pscconsulting.netTel: 862.216.7523
Investor Relations Contact:David Waldman or
Natalya RudmanCrescendo Communications,
LLCEmail: lmao@crescendo-ir.comTel: 212-671-1020
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