Kindly MD, Inc. Plans $7 Million IPO for May 15th (KDLY)

Kindly MD, Inc. (KDLY) plans to raise $7 million in an initial public offering (IPO) on Wednesday, May 15th, IPO Scoop reports. The company will issue 1,300,000 shares at $5.50 per share.

In the last twelve months, Kindly MD, Inc. generated $3.8 million in revenue and had a net loss of $2.5 million. The company has a market-cap of $32.2 million.

WallachBeth Capital LLC served as the underwriter for the IPO.

Kindly MD, Inc. provided the following description of their company for its IPO: “We provide chronic pain management services (medical cannabis)  on an outpatient basis at two clinics in Utah. We also provide online services. We intend to use some of the IPO proceeds to fund our expansion with two new clinics in Utah. (Kindly MD, Inc. filed an S-1/A on Nov. 6, 2023, disclosing terms for its IPO: 1.27 million units at $5.50 each to raise $7.0 million. Each unit will consist of one share of stock and one warrant to buy one share of stock. Background: The company filed its S-1 in September. Kindly MD, Inc. submitted confidential IPO documents to the SEC on May 2, 2023.). “.

Kindly MD, Inc. was founded in 2019 and has 63 employees. The company is located at 5097 South 900 East Suite 100 Salt Lake City, UT 84117 and can be reached via phone at (385) 388-8220 or on the web at http://www.kindlymd.com/.