: Medical cannabis treatment data company Kindly MD files for IPO

Kindly MD Inc., a Salt Lake City-based non-traditional medical treatment data company, plans to go public, according to a filing with the Securities and Exchange Commission late Wednesday. The company said it plans to offer common stock and tradeable warrants that trade on the Nasdaq under the ticker symbols “KDLY” and “KDLYW,” respectively. WallachBeth Capital LLC was listed as the sole underwriter. The company uses healthcare data focused on better pain management to help reduce the impact of the opioid epidemic. In the filing, Kindly MD said it was “one of the largest providers of medical evaluation and management services related to treatment recommendations within the medical cannabis program in Utah,” serving more than 14,800 active patients, or about 21% of the total Utah medical cannabis patient population. In 2022, the company reported revenue of $3.8 million, and a loss of $2.5 million, or $1.56 a share, versus 2021’s $2.5 million in revenue, and net income of just over $149,000.

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