Fierce Healthcare June 21, 2021
Doximity, a social network for doctors, plans to raise nearly $536 million through an initial public offering.
At the midpoint of the proposed range, Doximity would command a fully diluted market value of $4.5 billion.
Doximity plans to sell 23.3 million shares priced between $20 and $23 per share, according to a filing with the U.S. Securities and Exchange Commission last week. The offering consists of about 19 million shares of Class A common stock offered by Doximity and roughly 4.3 million shares of Class A common stock sold by existing investors.
Through a reserved share program, Doximity will set aside up to 15% of its shares for member physicians at the institutional investor rate.
It plans to list its...