Lucosky Brookman Represents LifeMd. in $15,000,000 Debt Financing
Lucosky Brookman LLP is pleased to share that on June 03, 2021, its client LifeMd, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, successfully closed a $15 million debt financing with B. Riley Principal Investments.
Lucosky Brookman acted as corporate and securities legal counsel to the Company.
“We are very pleased to have completed this debt transaction with B. Riley Principal Investments. We believe this transaction is a strong validation of LifeMD’s telehealth platform and our continued investment in growth,” noted Marc Benathen, CFO of LifeMD. “As we noted previously, our management team has remained very focused on bolstering our balance sheet to support our aggressive growth strategy and pathway to profitability while doing so with the best interests of our shareholders in mind. By completing this debt financing, LifeMD not only enhances the cash on the balance sheet but forms a key partnership with a tremendous institution with strong capital markets capabilities and deep relationships in the space.”
"B Riley’s Principal Investment team uses the firm’s proprietary capital to make direct investments in companies with proven platform technologies with significant near-term growth potential,” noted Bryant Riley, Chairman and CEO of B. Riley. “We believe that LifeMD fits this profile and we are committed to leveraging the full power of our banking platform and network to support the growth of LifeMD.”