“We believe the participation of this group of strategic investors will create significant value for our shareholders over the next few years,” commented Justin Schreiber, chairman and CEO of Conversion Labs. “As visionary corporate leaders, we look forward to their guidance and advice as we work to build a leading telemedicine business that can bring positive change to the delivery of healthcare and access to affordable medications.”
The investors include David Blitzer and Wes Edens. The terms of the transaction include a one-year lockup on the sale or transfer of the securities. The proceeds will be used primarily for general working capital and customer acquisition.
Wesley Robert Edens is an American businessman and private equity investor.He is a cofounder of Fortress Investment Group and founder of New Fortress Energy, Edens is also a co-owner of the Milwaukee Bucks, a National Basketball Association (NBA) franchise based in Milwaukee, Wisconsin, along with Marc Lasry.
Edens owns over 69,366,932 units of Drive Shack stock worth over $27,355,748 and over the last 15 years he sold DS stock worth over $4,588,673,493.
David S. Blitzer is the Global Head of Blackstone’s Tactical Opportunities group (Tac Opps), and a member of the firm’s Management Committee. He is also involved in the Tac Opps Investment Committee. Tac Opps is Blackstone’s opportunistic investment business which invests globally across asset classes and industries and seeks to identify and execute on attractive, differentiated investment opportunities.
