LMP Automotive Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits
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Item 1.01 Entry into a Definitive Material Agreement.
On July 15, 2022, LMP White Plains CDJR, LLC, a New York limited liability company (“LMPWP”), a subsidiary of LMP Automotive Holdings, Inc., a Delaware corporation, entered into Dealership Asset Purchase Agreement (the “APA”) with Tag Holdings, LLC, a Rhode Island limited liability company (the “Buyer”), pursuant to which LMPWP agreed to sell to the Buyer substantially all of the assets related to LMPWP’s Chrysler Jeep Dodge RAM automotive dealership (including the ancillary business related thereto) located at 70 Westchester Avenue, White Plains, NY 10601 (the “Dealership”), in exchange for approximately $15,750,000.
The APA is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the APA and the transactions contemplated thereby is not complete and is qualified in their entirety by the contents of the APA.
Item 2.01 Completion of Acquisition or Disposition of Assets.
The information set forth in Item 1.01 above is incorporated by reference in this Item 2.01.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Dealership Asset Purchase Agreement, dated as of July 15, 2022, by and between TAG Holdings, LLC and LMP White Plains CDJR, LLC. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LMP AUTOMOTIVE HOLDINGS, INC. | ||
| July 18, 2022 | By: | /s/ Sam Tawfik |
| Name: | Sam Tawfik | |
| Title: | President and Chief Executive Officer | |
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