In this paper, we study a new type space reverse nonlocal Lakshmanan-Porserzian-Daniel (LPD) equation which can be derived from the two-component LPD system with a special reduction. We construct the multi-fold binary Darboux transformation for this equation and obtain lots of exact solutions with zero and non-zero background condition. We find that these solutions exhibit various dynamic properties, and most of the collisions between the waves in these solutions are inelastic.