Symbiont.io, Inc. announced that it expects to receive $3 million in funding from LM Funding America, Inc.
December 30, 2021
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Symbiont.io, Inc. entered into a secured promissory note and loan agreement to receive $3,000,000 in funding on December 1, 2021. The outstanding principal amount of the loans will bear interest at a rate of 16% per annum. The outstanding principal, plus any accrued and unpaid interest, becomes due and payable on December 1, 2022. The note is secured by a first priority perfected security interest in the assets of the company.
On same date, the company has received $2,000,000 in its first tranche and upon the occurrence of certain triggering events, may loan to Symbiont up to an additional $1,000,000. The company issued warrants to purchase 700,000 fully paid and nonassessable shares. The warrant is immediately exercisable at a purchase price of $3.0642 per share of Common Stock, subject to adjustment in certain circumstances, and will expire on December 1, 2026.
LM Funding America, Inc. together with its subsidiaries, is a cryptocurrency mining and technology-based specialty finance company. Its segments include Specialty Finance and Mining Operations. It offers funding to nonprofit community associations (Associations) primarily located in the state of Florida. It provides incorporated nonprofit community associations. Its original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. In addition to its original product offering, the Company also purchase accounts on varying terms to suit each Associationâs financial needs, including under its New Neighbor Guaranty program. Under New Neighbor Guaranty program, an Association assigns substantially all of its outstanding indebtedness and accruals on its delinquent units to the Company in exchange for payment of monthly dues on each delinquent unit.
LM FUNDING AMERICA, INC. 
