JERSEY
CITY, N.J., June 3, 2024
/PRNewswire/ -- WallachBeth Capital LLC, a leading provider of
capital markets and institutional execution services, announced
today that 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 has completed its
previously announced IPO 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, prior to deducting underwriting discounts
and offering expenses. 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.
The shares and Tradeable Warrants began trading on the Nasdaq
Capital Market on May 31, 2024, under
the symbols "KDLY" and "KDLYW," respectively.
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 acted as the Sole Bookrunner for the
offering.
The offering is being made only by means of a prospectus. A copy
of the final prospectus related to the offering may be obtained
from WallachBeth Capital, LLC, via email: cap-mkts@wallachbeth.com,
or by calling +1 (646) 237-8585, or by standard mail at WallachBeth
Capital LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410,
Jersey City, NJ 07311,
USA. In addition, a copy of the
final prospectus relating to the offering may be obtained via the
Securities and Exchange Commission's ("SEC") website at
www.sec.gov.
A registration statement on Form S-1, as amended (File No.
333-274606), relating to these securities was filed with the SEC
and was declared effective on May 13,
2024. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About WallachBeth Capital LLC.
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community. The firm's
experience includes initial public offerings, follow-on issues,
PIPE offerings, and private transactions. The firm's website is
located at www.wallachbeth.com.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes.'' These forward-looking statements are not guarantees
of future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
You are urged to carefully review and consider any cautionary
statements and other disclosures, including the statements made
under the heading "Risk Factors" in KindlyMD, Inc.'s Annual Report
on Form 10-K for the fiscal year ended December 31, 2022. KindlyMD, Inc. does not
undertake any duty to update any forward-looking statements except
as may be required by law. The information which appears on our
websites and our social media platforms, including, but not limited
to, Instagram and Facebook, is not part of this press release.
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SOURCE WallachBeth Capital LLC