 SANTA CLARA, Calif., Dec. 24, 2020 GLOBE NEWSWIRE -- Borqs Technologies, Inc. Nasdaq: BRQS, the Company, a global provider of embedded software and products for the Internet of Things IoT, today reported that the Company has entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC LMFA, a Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. Nasdaq: LMFA, in which LMFA is committed to purchase up to be approximately 18 million of debt in tranches, which when completed will eliminate substantially all of the debt with the Companys senior lender. LMFA will convert the purchased debt into common shares of the Company, pursuant to a court order that allows the conversion shares to be issued as unrestricted securities in a transaction that is exempt from registration under Section 3a10 of the Securities Act of 1933, as amended. Please refer to the companys SEC filings for additional information about the transaction. 