Lowenstein Sandler represented Drop Fitness, the developer of an online fitness platform intended to offer a vertically integrated fitness and wellness warehouse in underserved suburban markets, in its Series Seed 1 financing.
Drop Fitness offers a luxury gym experience with a download-to-join model in lieu of traditional membership. The company combines proven, profitable health and wellness businesses all under one roof, thereby enabling users to keep track of their health.
Drop Fitness aims to open in spring 2022.
The value of the transaction was $5 million.
The deal team included Raymond P. Thek, Juan B. Soto, Samantha Fox, and Chelmie Ulysse.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
Contact(s):
Kevin Iredell
Chief Marketing Officer
Lowenstein Sandler LLP
T: +1 973.597.6130
E: kiredell@lowenstein.com
