LMP Automotive Holdings, Inc. Announces Entry Into a Definitive Agreement for the Acquisition of a 70% Interest in New York’s Largest Franchise Dealership Group - Atlantic Automotive Group - and New York Logistics and Vehicle Storage Company - Atlantic Central Storage - Together Valued at $608,000,000

LMP Automotive Holdings, Inc. Announces Entry Into a Definitive Agreement for the Acquisition of a 70% Interest in New York’s Largest Franchise Dealership Group – Atlantic Automotive Group – and New York Logistics and Vehicle Storage Company – Atlantic Central Storage – Together Valued at $608,000,000

October 9, 2020

Upon closingand combined with our currently contracted acquisitions, LMP’s revenues are expected to exceed $2.2B on an annualized basis in 2021, with approximately $70M in pre-tax income and expected net income of $4.59 per share, which would likely make LMP a newcomer to the Fortune 1000 list of companies with over 1,600 employees;
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