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.

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