# EDGAR Filing Document

**Accession Number:** 0000896493
**File Stem:** 0000921895-25-003173
**Filing Date:** 2025-11
**Character Count:** 37001
**Document Hash:** b67bf123716fecd3e8ee8e0169bf9e8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-003173.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0000921895-25-003173

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LM FUNDING AMERICA, INC.
- **CENTRAL INDEX KEY:** 0001640384
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89155
- **FILM NUMBER:** 251509350

**BUSINESS ADDRESS:**
- **STREET 1:** 1200 WEST PLATT STREET
- **STREET 2:** SUITE 100
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33606
- **BUSINESS PHONE:** 813-222-8996

**MAIL ADDRESS:**
- **STREET 1:** 1200 WEST PLATT STREET
- **STREET 2:** SUITE 100
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33606
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hyperscale Data, Inc.
- **CENTRAL INDEX KEY:** 0000896493
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 941721931
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 11411 SOUTHERN HIGHLANDS PARKWAY
- **STREET 2:** SUITE 190
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89141
- **BUSINESS PHONE:** (949) 444-5464 3679

**MAIL ADDRESS:**
- **STREET 1:** 11411 SOUTHERN HIGHLANDS PARKWAY
- **STREET 2:** SUITE 190
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89141

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ault Alliance, Inc.
- **DATE OF NAME CHANGE:** 20230103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BitNile Holdings, Inc.
- **DATE OF NAME CHANGE:** 20211213

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ault Global Holdings, Inc.
- **DATE OF NAME CHANGE:** 20210119

## Ex-1

Exhibit 1

**<u>Officers and Directors of Hyperscale Data, Inc.</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Name and Position | &nbsp;&nbsp;Principal Occupation | &nbsp;&nbsp;Principal Business Address | &nbsp;&nbsp;Citizenship |
| &nbsp;&nbsp;Milton C. Ault, III<br> Executive Chairman | &nbsp;&nbsp;Executive Chairman of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;William B. Horne<br> Vice Chairman, CEO and Director | &nbsp;&nbsp;Chief Executive Officer of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;Henry C.W. Nisser<br> President, General Counsel and Director | &nbsp;&nbsp;President and General Counsel of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 122 East 42<sup>nd</sup> Street, 50<sup>th</sup> Floor<br> Suite 5000<br> New York, NY 10168 | &nbsp;&nbsp;Sweden |
| &nbsp;&nbsp;Ken Cragun<br> Chief Financial Officer | &nbsp;&nbsp;Chief Financial Officer of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;Robert O. Smith<br> Lead Independent Director | &nbsp;&nbsp;Independent executive consultant | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;Mordechai Rosenberg<br> Independent Director | &nbsp;&nbsp;Independent consultant | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;Israel |
| &nbsp;&nbsp;Jeffrey A. Bentz<br> Independent Director | &nbsp;&nbsp;Retired executive | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |

---

**<u>Officers and Directors of ACG Alpha Management LLC</u>**

Name and Position Principal Occupation Principal Business Address Citizenship <br> Milton C. Ault, III<br> CEO and Chief Investment Officer Executive Chairman of Hyperscale Data, Inc. c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 USA

**<u>Officers and Directors of Ault Lending, LLC</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Name and Position | &nbsp;&nbsp;Principal Occupation | &nbsp;&nbsp;Principal Business Address | &nbsp;&nbsp;Citizenship |
| &nbsp;&nbsp;David Katzoff<br> Manager | &nbsp;&nbsp;Senior Vice President Finance of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Ault Lending, LLC<br> 940 South Coast Drive, Suite 200<br> Costa Mesa, CA 92626 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;William B. Horne<br> Chief Executive Officer | &nbsp;&nbsp;Chief Executive Officer of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |

---

**<u>Officers and Directors of Ault Capital Group, Inc.</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Name and Position | &nbsp;&nbsp;Principal Occupation | &nbsp;&nbsp;Principal Business Address | &nbsp;&nbsp;Citizenship |
| &nbsp;&nbsp;Milton C. Ault, III<br> Executive Chairman | &nbsp;&nbsp;Executive Chairman of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;William B. Horne<br> Vice Chairman, CEO and Director | &nbsp;&nbsp;Chief Executive Officer of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |
| &nbsp;&nbsp;Henry C.W. Nisser<br> President, General Counsel and Director | &nbsp;&nbsp;President and General Counsel of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 122 East 42<sup>nd</sup> Street, 50<sup>th</sup> Floor<br> Suite 5000<br> New York, NY 10168 | &nbsp;&nbsp;Sweden |
| &nbsp;&nbsp;Ken Cragun<br> Chief Financial Officer | &nbsp;&nbsp;Chief Financial Officer of Hyperscale Data, Inc. | &nbsp;&nbsp;c/o Hyperscale Data, Inc.<br> 11411 Southern Highlands Parkway, Suite 190<br> Las Vegas, NV 89141 | &nbsp;&nbsp;USA |

---

## Ex-2

Exhibit 2

**<u>Transactions in the Securities of the Issuer During the Past Sixty Days</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Nature of the Transaction</u> | &nbsp;&nbsp; Amount of Securities<br> <u>Purchased/(Sold)</u> | &nbsp;&nbsp;<u>Price ($)</u> | &nbsp;&nbsp; Date of<br> <u>Purchase/Sale</u> |

---

**<u>Alpha Structured Finance LP</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;33918 | &nbsp;&nbsp;1.1306<sup>(1)</sup> | &nbsp;&nbsp;11/07/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;69582 | &nbsp;&nbsp;0.9093<sup>(2)</sup> | &nbsp;&nbsp;11/14/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(3500) | &nbsp;&nbsp;1.1977 | &nbsp;&nbsp;11/14/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 0.8362<sup>(5)</sup> | &nbsp;&nbsp;11/18/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 0.8387 | &nbsp;&nbsp;11/19/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;20000 | &nbsp;&nbsp;0.8075<sup>(6)</sup> | &nbsp;&nbsp;11/21/2025 |

---

**<u>Ault Lending, LLC</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;20000 | &nbsp;&nbsp;1.3870 | &nbsp;&nbsp;10/08/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;10000 | &nbsp;&nbsp;1.2446 | &nbsp;&nbsp;10/13/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;5000 | &nbsp;&nbsp;1.2800 | &nbsp;&nbsp;10/14/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;20000 | &nbsp;&nbsp;1.1312<sup>(3)</sup> | &nbsp;&nbsp;10/21/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(28754) | &nbsp;&nbsp;1.3713 | &nbsp;&nbsp;11/05/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;524752 | &nbsp;&nbsp;1.2348<sup>(4)</sup> | &nbsp;&nbsp;11/07/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;2052 | &nbsp;&nbsp;1.0825 | &nbsp;&nbsp;11/12/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;46950 | &nbsp;&nbsp;0.9427 | &nbsp;&nbsp;11/14/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;6428 | &nbsp;&nbsp;0.8495 | &nbsp;&nbsp;11/18/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;50000 | &nbsp;&nbsp;0.8337 | &nbsp;&nbsp;11/19/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;50000 | &nbsp;&nbsp;0.8080 | &nbsp;&nbsp;11/21/2025 |

---

(1) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $1.1306. The range of purchase prices on the transaction date was $1.0600 to $1.2000
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

(2) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $0.9093. The range of purchase prices on the transaction date was $0.8900 to $0.9200
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

(3) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $1.1312. The range of purchase prices on the transaction date was $1.1299 to $1.1325
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

(4) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $1.2348. The range of purchase prices on the transaction date was $1.2340 to $1.2420
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

(5) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $0.8362. The range of purchase prices on the transaction date was $0.8100 to $0.8600
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

(6) The Shares were purchased by the Reporting Person in open market transactions on the transaction date,
with a volume weighted average purchase price of $0.8075. The range of purchase prices on the transaction date was $0.7900 to $0.8100
per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer,
full information regarding the number of Shares purchased at each price.

## Exhibit 99.1

Exhibit 99.1

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including amendments thereto) with respect to the Common Stock of LM Funding America, Inc. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| Hyperscale Data, Inc. | Hyperscale Data, Inc. |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III, Executive Chairman |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| Alpha Structured Finance LP | Alpha Structured Finance LP |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III, CEO and Chief Investment Officer of its Investment Manager |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| Alpha Structured Finance GP LLC | Alpha Structured Finance GP LLC |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III, CEO and Chief Investment Officer of its Managing Member |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| ACG Alpha Management LLC | ACG Alpha Management LLC |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III, CEO and Chief Investment Officer |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| Ault Lending, LLC | Ault Lending, LLC |
| By: | /s/ David J. Katzoff |
|  | David J. Katzoff, Manager |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| Ault Capital Group, Inc. | Ault Capital Group, Inc. |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III, Executive Chairman |
| Date: | 11/21/2025 |

---

---

| | |
|:---|:---|
| AULT MILTON C III | AULT MILTON C III |
| By: | /s/ Milton C. Ault, III |
|  | Milton C. Ault, III |
| Date: | 11/21/2025 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**LM FUNDING AMERICA, INC.**

*(Name of Issuer)*

**Common Stock par value $0.001 per share**

*(Title of Class of Securities)*

**502074503**

*(CUSIP Number)*

**Kenneth Schlesinger, Esq.**<br>Olshan Frome Wolosky LLP<br>1325 Avenue of the Americas<br>New York NY 10019<br>212-451-2300

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/14/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Hyperscale Data, Inc.** | Name of reporting person<br>**Hyperscale Data, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**891428.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**891428.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.3%** | Percent of class represented by amount in Row (11)<br>**7.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Alpha Structured Finance LP** | Name of reporting person<br>**Alpha Structured Finance LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**185000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**185000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.5%** | Percent of class represented by amount in Row (11)<br>**1.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Alpha Structured Finance GP LLC** | Name of reporting person<br>**Alpha Structured Finance GP LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**185000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**185000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.5%** | Percent of class represented by amount in Row (11)<br>**1.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACG Alpha Management LLC** | Name of reporting person<br>**ACG Alpha Management LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**185000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**185000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | Aggregate amount beneficially owned by each reporting person<br>**185000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.5%** | Percent of class represented by amount in Row (11)<br>**1.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ault Lending, LLC** | Name of reporting person<br>**Ault Lending, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**706428.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**706428.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**706428.00** | Aggregate amount beneficially owned by each reporting person<br>**706428.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.8%** | Percent of class represented by amount in Row (11)<br>**5.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ault Capital Group, Inc.** | Name of reporting person<br>**Ault Capital Group, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEVADA** | Citizenship or place of organization<br>**NEVADA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**891428.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**891428.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.3%** | Percent of class represented by amount in Row (11)<br>**7.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **502074503** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**AULT MILTON C III** | Name of reporting person<br>**AULT MILTON C III** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**891428.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**891428.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | Aggregate amount beneficially owned by each reporting person<br>**891428.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.3%** | Percent of class represented by amount in Row (11)<br>**7.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock par value $0.001 per share

**(b) Name of Issuer:**
LM FUNDING AMERICA, INC.

**(c) Address of Issuer's Principal Executive Offices:**
1200 WEST PLATT STREET, SUITE 100, TAMPA, FL, 33606

**Item 4. Purpose of Transaction**

Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons intend to engage in discussions with the Issuer's board of directors and management team regarding opportunities for the Issuer to enhance stockholder value.

The Reporting Persons do not have any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position, results and strategic direction, actions taken by the Issuer's management team and the Board, price levels of the Shares, conditions in the securities markets, general economic and industry conditions, and other investment opportunities available to the Reporting Persons, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board, engaging in discussions with the Issuer, stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses or assets, including transactions in which the Reporting Persons may seek to participate and potentially engage in, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, Board structure (including Board composition), or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative transactions, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported beneficially owned by the Reporting Persons is based upon 12,209,413 Shares outstanding as of November 11, 2025, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2025.

As of the date hereof, Hyperscale, as the majority holder of the equity interests of Ault Capital, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending.

Percentage: Approximately 7.3%

As of the date hereof, Alpha Fund beneficially owned 185,000 Shares.

Percentage: Approximately 1.5%

As of the date hereof, Alpha GP, as the general partner of Alpha Fund, may be deemed to beneficially own the 185,000 Shares beneficially owned by Alpha Fund.

Percentage: Approximately 1.5%

As of the date hereof, Alpha Management, as the investment manager of Alpha Fund, may be deemed to beneficially own the 185,000 Shares beneficially owned by Alpha Fund.

Percentage: Approximately 1.5%

As of the date hereof, Ault Lending beneficially owned 706,428 Shares.

Percentage: Approximately 5.8%

As of the date hereof, Ault Capital, as the majority holder of the equity interests of Alpha Management and Ault Lending, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending.

Percentage: Approximately 7.3%

As of the date hereof, Mr. Ault, as the CEO and Chief Investment Officer of Alpha Management, Executive Chairman of Ault Capital, and the Executive Chairman of Hyperscale, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending.

Percentage: Approximately 7.3%

**(b)**
Hyperscale:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 891,428
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 891,428

Alpha Fund:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 185,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 185,000

Alpha GP:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 185,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 185,000

Alpha Management:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 185,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 185,000

Ault Lending:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 706,428
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 706,428

Ault Capital:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 891,428
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 891,428

Mr. Ault:
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 891,428
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 891,428

**(c)**
The transactions in the Shares by each of the Reporting Persons during the past sixty days are set forth in Exhibit 2 and are incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On November 21, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Hyperscale Data, Inc.

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III, Executive Chairman

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Alpha Structured Finance LP

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III, CEO and Chief Investment Officer of its Investment Manager

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Alpha Structured Finance GP LLC

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III, CEO and Chief Investment Officer of its Managing Member

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACG Alpha Management LLC

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III, CEO and Chief Investment Officer

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ault Lending, LLC

**Signature:** /s/ David J. Katzoff

**Name/Title:** David J. Katzoff, Manager

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ault Capital Group, Inc.

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III, Executive Chairman

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** AULT MILTON C III

**Signature:** /s/ Milton C. Ault, III

**Name/Title:** Milton C. Ault, III

**Date:** 11/21/2025