Foley Represents LM Funding America in $23M Capital Raise

Foley & Lardner LLP represented LM Funding America, Inc. (LM Funding), a Bitcoin treasury and mining company, in its $23 million capital raise through a combination of a $12.6 million registered direct offering and a $10.4 million private placement.

The net proceeds from the offerings will be used primarily to purchase additional Bitcoin for LM Funding’s treasury. The company also recently announced the planned acquisition of an 11-megawatt mining site in Columbus, Mississippi, funded directly from its balance sheet.

LM Funding launched its Bitcoin treasury strategy in 2021 and added mining operations in 2022. The company has since accumulated 150 Bitcoin and developed a path to 26 megawatts of owned mining capacity.

The Foley team representing LM Funding was led by partners Curt Creely and John Wolfel.