LifeMD Inc | 8.875% Series A Cumulative Perpetual Preferred Stock (LFMDP)
Prospectus excerpt: We are offering for sale 1,400,000 shares of our 8.875% Series A Cumulative Perpetual Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”). The liquidation preference of each share of Series A Preferred Stock is $25.00. We have granted the underwriters an option to purchase up to an additional 210,000 shares of Series A Preferred Stock within 30 days from the date of this prospectus supplement. We will pay cumulative distributions on the Series A Preferred Stock, from, and including, the date of original issuance, in the amount of $2.21875 per share each year, which is equivalent to 8.875% of the $25.00 liquidation preference per share. Dividends on the Series A Preferred Stock will be payable quarterly in arrears, on or about the 15th day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day). The first dividend on the Series A Preferred Stock sold in this offering will be paid on or about January 15, 2022. We will establish a segregated account that will be funded at closing with proceeds sufficient to pre-fund with eight (8) quarterly dividend payments. The segregated account may only be used to pay dividends on the Series A Preferred Stock, when legally permitted, and may not be used for other corporate purposes.
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LifeMD is an online direct-to-patient marketing and telehealth company with various health and wellness brands. Co.'s virtual primary care offering under the LifeMD brand, LifeMD Southern Patient Medical Care, P.C., provides patients with access to a provider for their primary care, urgent care, and chronic care needs. Co. also utilizes its telehealth platform's provider network, cloud pharmacy, and electronic medical record capabilities across its direct-to-patient telehealth brands. Co.'s telehealth brands RexMD, ShapiroMD, NavaMD, and its subsidiary, Cleared Technologies, PBC, engage in their respective treatment verticals of men's health, hair loss, dermatology, and immunology. Preferred: LFMDP Open the LFMD Information Page » |
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