UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.02 Termination of a Material Definitive Agreement.
As previously reported on Current Report on Form 8-K filed on July 26, 2021, LMP Automotive Holdings, Inc., a Delaware corporation (the “Company”) entered into a dealership asset purchase agreement (the “APA”) with Joseph Klimas, Jr. (“Klimas”) and K&W Enterprises LLC (“Seller”), to acquire the assets related to the Seller’s ownership and operation of a franchised Kia motor vehicle dealership located at 99 Ash Street, East Hartford, Connecticut 06108 (the “Dealership”). The Company also entered into a real estate contract (the “REC”) with Ash Street Holdings LLC, an affiliate of Klimas and the Seller, providing for the purchase by the Company of the real property on which the Dealership is located (the “Property”). On March 11, 2022, the Company’s acquisition of the Dealership and the Property were terminated in accordance with the terms of the APA and the REC, respectively. The Company does not expect to incur any material termination penalties pursuant to such terminations. The description of the APA and the REC and the transactions contemplated thereby are incorporated by reference to the Company’s Current Report on Form 8-K filed on July 26, 2021.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 15, 2022
| LMP AUTOMOTIVE HOLDINGS, INC. | |||
| By: | /s/ Sam Tawfik | ||
| Name: | Sam Tawfik | ||
| Title: | Chief Executive Officer | ||
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