Business
LifeMD Announces Closing of Public Offering of Common Stock and Exercise of the Underwriters’ Option
NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (the “Company”) (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced the
About this update from Lifemd, Inc.
[{"type":"text","content":"NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (the “Company”) (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced the closing of its previously announced underwritten registered public offering of 3,833,334 shares of its common stock, par value $0.01 per share, which includes 500,000 shares of common stock issued upon the exercise in full of the underwriter’s option to purchase additional shares of common stock. The Company intends to use the net proceeds after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, but before repayment of debt, of approximately $21.4 million to repay a portion of its indebtedness and the remaining net proceeds for working capital and general corporate purposes including, but not limited to, new patient customer acquisition expenses and capital expenditures. The Company anticipates using approximately $5 million of net proceeds to repay existing indebtedness. B. Riley Securities, Inc. acted as the sole book-running manager for the offering. The common stock was offered under the Company’s shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (“SEC”) on June 22, 2021. The offering was made only by means of a final prospectus supplement and the accompanying prospectus available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained from B. Riley Securities, Inc. You should direct any requests to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, by telephone at (703) 312-9580 or by email at [email protected]. About LifeMD LifeMD, Inc. is a rapidly growing direct-to-patient, telehealth company, offering cash-pay virtual medical care across all 50 states. LifeMD’s telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate, prescription medications and over-the-counter products delivered directly to the patient’s home. To learn more, visit www.LifeMD.com Cautionary Note Regarding Forward Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Secu...