Kindly MD, Inc. Plans $7 Million IPO for May 28th (KDLY)

Kindly MD, Inc. (KDLY) plans to raise $7 million in an initial public offering on Tuesday, May 28th, IPO Scoop reports. The company plans to issue 1,300,000 shares at a price of $5.50 per share.

In the last twelve months, Kindly MD, Inc. generated $3.8 million in revenue and had a net loss of $1.6 million. Kindly MD, Inc. has a market-cap of $32.8 million.

WallachBeth Capital LLC acted 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. (Incorporated in Utah) We intend to use some of the IPO proceeds to fund our expansion with two new clinics in Utah. Kindly MD is one of the largest providers of medical evaluation and management services related to treatment recommendations within the medical cannabis program in Utah. The company is the only service provider of its kind with Medicare, Medicaid and commercial insurance payer contracts, according to the prospectus. Note: Net loss and revenue figures are for the 12 months that ended Dec. 31, 2023. (Note: Kindly MD, Inc. plans to offer 1.27 million units (1,272,727 units) at $5.50 each to raise $7.0 million, according to its prospectus dated May 13, 2024. Each unit will consist of one share of stock and one warrant to buy one share of stock – plus one non-tradeable warrant to buy one-half of one share of common stock, according to the prospectus. Background: Kindly MD Inc. disclosed terms for its IPO – 1.27 million units (stock and warrants) at $5.50 per unit – to raise $7.0 million in an S-1/A filing on Nov. 6, 2023. 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

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