FORT LAUDERDALE, FL , Sept. 23, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today provided its planned closing schedule for contracted acquisitions.

Planned Closing Schedule Northeast

• White Plains Chrysler Dodge Jeep Ram

  • October 1, 2021

• Chrysler Dodge Jeep Ram in New York

  • October 29, 2021

• Chrysler Dodge Jeep Ram in New York

  • October 29, 2021

• Kia Dealership in Connecticut

  • November 15, 2021

• Kia Dealership in New York

  • November 18, 2021

Planned Closing Schedule Southeast

• Chrysler Dodge Jeep Ram Dealership in Tennessee

  • December 1, 2021

• Alan Jay Automotive Group

  • December 15, 2021

Planned Closing Schedule Midwest

• General Motors and Nissan Dealerships in Texas

  • November 15, 2021

• 5 Import Dealerships in Texas

  • December 7, 2021

Richard Aldahan, LMP’s Chief Operating Officer stated, "LMP will commence its rolling close process with the first of the closes scheduled to occur next week. We expect to close substantially all contracted acquisitions before year end on a rolling basis, subject to customary closing conditions and manufacturer approvals. We are excited about our perspective partnerships that have demonstrated their steady state earnings over the years. Upon closings, these transactions will be immediately accretive to LMP’s earnings and are expected to be funded through a combination of cash on LMP’s balance sheet, common stock and debt financing.”

ABOUT LMP AUTOMOTIVE HOLDINGS, INC.
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a growth company with a long-term plan to profitably consolidate and partner with automotive dealership groups in the United States. We offer a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.

Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growing selection of owned inventories and physical logistics network. We seek to provide customers with a seamless experience both online and in person. Our physical logistics network enables us to provide convenient free delivery points for customers and provide services throughout the entire ownership life cycle. We use digital technologies to lower our customer acquisition costs, achieve operational efficiencies, and generate additional revenues. Our unique growth model generates significant cash flows, which funds our innovation and expansion into new geographical markets, along with strategically building out dealership networks, creating personal transportation solutions that consumers desire.