Kindly MD, Inc.

General Information
Business:

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.  trimmed its micro-cap unit IPO to 1.24 million units (1,240,910 units) – down from 1.27 million units in the prospectus – and priced the IPO at $5.50, the assumed IPO price, to raise $6.83 million on May 31, 2024. Each unit consisted of one share of common stock, one tradeable warrant to buy one share of stock, and one non-tradeable warrant to buy one-half of one share of stock, according to the prospectus. The stock and the tradeable warrants started trading on Friday, May 31, 2024, on the NASDAQ. Background: Kindly MD, Inc. disclosed the 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.)

 

Industry: Services
Employees: 63
Founded: 2019
Contact Information
Address 5097 South 900 East Suite 100 Salt Lake City, UT 84117
Phone Number (385) 388-8220
Web Address http://www.kindlymd.com/
View Prospectus: Kindly MD, Inc.
Financial Information
Market Cap $32.84mil
Revenues $3.77 mil (last 12 months)
Net Income $-1.62 mil (last 12 months)
IPO Profile
Symbol KDLY
Exchange NASDAQ
Shares (millions): 1.2
Price range $5.50 - $5.50
Est. $ Volume $6.8 mil
Manager / Joint Managers WallachBeth Capital LLC
CO-Managers
Expected To Trade: 5/31/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change