LMFA - LM Funding America's $2.6M bid for Symbiont.io assets approved
2023-06-06 09:44:08 ET
- LM Funding America ( NASDAQ: LMFA ) said Tuesday its $2.6M stalking horse bid to buy the assets of Symbiont.io, which filed for Chapter 11 bankruptcy protection last year, was approved by the bankruptcy court .
- The company was the sole secured creditor for Symbiont as a result of a $2M secured loan, and has now acquired its assets with a credit bid.
- "We intend to pursue strategic relationships to offer financial services blockchain enterprise platform Assembly to institutions," said LM Funding ( LMFA ) CEO Bruce Rodgers. "We also plan to explore other use cases for the Symbiont assets and Assembly platform."
- LM Funding's ( LMFA ) bid was expected to be approved as it was unopposed.
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LM Funding America's $2.6M bid for Symbiont.io assets approved