Quick Take
LMP Automotive (LMPX) has filed to raise gross proceeds of up to $18 million from a U.S. IPO, according to an S-1/A registration statement.
The firm operates an automotive e-commerce and facilities-based retail platform for trading, renting, subscribing for or financing pre-owned and new vehicles.
LMPX is growing unevenly and is producing significant losses for all major financial metrics except cash flow from operations.
I don’t believe LMPX is ready for public capital, although it has some future potential as it matures.
Company & Technology
Plantation, Florida-based LMP was founded