LM Funding Announces Adjournment of Annual Meeting of Stockholders

TAMPA, FL / ACCESSWIRE / December 13, 2021 / LM Funding America, Inc. (NASDAQ:LMFA) ("LM Funding" or the "Company"), today announced that the Company's Annual Meeting of Stockholders (the "Annual Meeting") scheduled for Friday, December 10, 2021 at 3:00 p.m. EST, was convened and adjourned without any business being conducted due to lack of the required quorum.

A quorum consists of a majority of the shares entitled to vote. There were fewer than a majority of shares entitled to vote present, either in person or by proxy, at the convening of the Annual Meeting. The Annual Meeting therefore had no quorum and the meeting was adjourned to 3:00 p.m. EST on Thursday, December 23, 2021 at 1200 Platt Street, Suite 100, Tampa, Florida 33606 to allow additional time for the Company's stockholders to vote on the proposals set forth in the Company's definitive proxy statement filed with the United States Securities and Exchange Commission (the "SEC") on November 17, 2021, as supplemented on December 6, 2021 (the "Proxy Statement").

During the current adjournment, the Company continues to solicit votes from its stockholders with respect to the proposals set forth in the Company's Proxy Statement.

Only stockholders of record as of the record date, October 19, 2021, are entitled to and are being requested to vote. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 37.5% of the shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. Proxies previously submitted in respect of the Annual Meeting will be voted at the adjourned Annual Meeting unless properly revoked, and stockholders who have previously submitted a proxy or otherwise voted need not take any action.

The Company encourages all stockholders of record on October 19, 2021, who have not yet voted, to do so by December 22, 2021 at 11:59 p.m. EST. Stockholders who have any questions require any assistance with completing a proxy or voting instruction form or who do not have the required materials may contact Richard Russell at rrussell@lmfunding.com.

If the number of additional shares of common stock voted at the adjourned Annual Meeting is not sufficient to reach a quorum, the Company intends to adjourn the Annual Meeting again, which will require the Company to incur additional costs.