LifeMD, Inc. (LFMD) to Offer 1.4M Preferred Shares

LifeMD, Inc. (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.

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