12:19 PM EDT, 05/31/2024 (MT Newswires) -- KindlyMD (KDLY) said Friday it has priced its initial public offering of about 1.2 million units at $5.50 per each for gross proceeds of about $6.8 million.

Each unit includes one common share, one tradeable warrant to buy one common share at $6.33 each, and one non-tradeable warrant to buy half a common share at $6.33 each, the company said, adding that each warrant included in the offering will expire five years from the date it's issued.

Underwriters have a 45-day option to buy up to an additional 186,136 common shares and/or 186,136 tradeable warrants, and/or 186,136 non-tradeable warrants, or any combination of the securities, the company said.

The shares and tradeable warrants are set to start trading on the Nasdaq Capital Market under the symbols KDLY and KDLYW, respectively, on Friday. The IPO is expected to close around Monday.