- The stock price of LMF Acquisition Opportunities (LMAO) increased by over 10% intraday today. This is why.
The stock price of LMF Acquisition Opportunities (LMAO) increased by over 10% intraday today.
Why: LMF Acquisition Opportunities (LMAO), a special purpose acquisition company (SPAC) sponsored by LM Funding America, Inc. (LMFA), and SeaStar Medical, a medical technology company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs, announced that LMAO stockholders voted to approve the previously proposed business combination with SeaStar Medical at LMAO’s special meeting of LMAO stockholders (the special meeting) held earlier yesterday.
Over 96% of the votes cast at the meeting voted to approve the business combination with SeaStar Medical. The holders of approximately 79% of LMAO’s issued and outstanding shares cast votes at the Special Meeting.
The business combination is expected to close upon satisfaction of all closing conditions, at which time LMAO will be renamed “SeaStar Medical Holding Corporation” and the company’s common stock and warrants are expected to begin trading on Nasdaq under the new ticker symbols “ICU” and “ICUCW,” respectively.