Digital platform for medical workers Doximity to offer 23.3 million shares in IPO priced at $20 to $23 each

Doximity, a digital platform for U.S. medical professionals, set terms for its initial public offering on Tuesday with plans to offer 23.3 million shares priced at $20 to $23 each. The company would raise
$535.9 million at the top of that range. It has applied to list on the New York Stock Exchange under the ticker “DOCS.” There are nine banks underwriting the deal, led by Morgan Stanley and Goldman Sachs. Proceeds of the deal will be used for working capial and other general corporate purposes. “We are the leading digital platform for U.S. medical professionals, as measured by the number of U.S. physician members, with over 1.8 million medical professional members as of March 31, 2021,” the company says in its IPO filing documents. “Our members include more than 80% of physicians across all 50 states and every medical specialty.”