LMPX - LMP Automotive signs $4M agreement to sell its Plantation Florida property

LMP Automotive (NASDAQ:LMPX) signed a $4M agreement to sell its Plantation, Florida property. Transaction is expected to close on or about April 2022. "This was our leasing and subscription site, and the sale is a profitable transaction and accretive to our financials. We will discontinue operations from this facility as part of our realignment strategy, focusing on franchise dealership acquisitions and operations. This will complete the sale of certain assets related to our leasing and subscription non-core business that we began late last year, and we believe deploying capital in our dealerships will yield higher returns," COO Richard Aldahan commented.

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LMP Automotive signs $4M agreement to sell its Plantation, Florida property