Business
LifeMD Announces Launch of Public Offering of 1,400,000 Shares of Preferred Stock
NEW YORK, Sept. 28, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (“the Company”) (NASDAQ: LFMD), a rapidly growing direct-to-patient telehealth company, today
About this update from Lifemd, Inc.
[{"type":"text","content":"NEW YORK, Sept. 28, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (“the Company”) (NASDAQ: LFMD), a rapidly growing direct-to-patient telehealth company, today announced it has commenced an underwritten registered public offering of 1,400,000 shares of its Series A Cumulative Perpetual Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), total liquidation preference of $35,000,000. In connection with this offering, the Company expects to grant the underwriters a 30-day option to purchase an additional 210,000 shares of Series A Preferred Stock at the public offering price, less underwriting discounts and commissions. The Company expects to use the net proceeds of this offering to fund the segregated dividend account and to repay a portion of certain 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. B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., Colliers Securities LLC and EF Hutton, division of Benchmark Investments, LLC are acting as book-running managers for the offering. Aegis Capital Corp., The Benchmark Company, LLC, Boenning & Scattergood, Inc., Chapin Davis Investments and B.C. Ziegler & Company will be acting as co-managers. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-256911) and preliminary prospectus supplement filed with the U.S. Securities and Exchange Commission (the “SEC”). The preliminary prospectus supplement relating to the offering will be available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, 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]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualifi...