WallachBeth Capital Announces Pricing of KindlyMD’s $6.8 Million IPO

KindlyMD, Inc. (NASDAQ: KDLY; KDLYW), a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies, including the recommendation of medical cannabis in patient treatment plans in compliance with a legalized state medical cannabis regulatory scheme, today announced the pricing of its initial public offering of 1,240,910 units at a price of $5.50 per Unit for a total of approximately $6.8 million of gross proceeds to the Company. Each Unit is comprised of one share of the Company’s common stock with $0.001 par value per share, one tradeable warrant to purchase one share of Common Stock at an exercise price of $6.33 per share, and one non-tradeable warrant to purchase one-half of one share of Common Stock at an exercise price of $6.33 per share. The units have no stand-alone rights and will not be certificated or issued as stand-alone securities. The shares of Common Stock and the Warrants comprising the Units are immediately separable upon issuance and will be used separately in this offering. Each Warrant offered as a part of this offering is immediately exercisable upon issuance and will expire five years from the date of issuance.

Once the securities comprising the units begin separate trading, the shares and Tradeable Warrants are expected to begin trading on the Nasdaq Capital Market on May 31, 2024, under the symbols “KDLY” and “KDLYW,” respectively. The offering is expected to close on or about June 3, 2024, subject to customary closing conditions.

In addition, KindlyMD has granted the underwriters a 45-day option to purchase, at the public offering price, up to an additional 186,136 shares of Common Stock and/or 186,136 Tradeable Warrants, and/or 186,136 Non-Tradeable Warrants, or any combination thereof, at the public offering price per share of Common Stock and per Warrant, respectively, less, in each case, underwriting discounts and commissions, on the same terms as set forth in this prospectus, solely to cover over-allotments, if any.

WallachBeth Capital LLC is the Sole Bookrunner for the offering.

About WallachBeth Capital LLC

WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions. The firm’s experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions