The Capital Markets and Digital Health teams advised Doximity (NYSE: DOCS) on its initial public offering of 23,300,000 shares of its Class A common stock at a price to the public of $26 per share. The offering consists of 19,010,750 shares of Class A common stock being sold by Doximity and 4,289,250 shares of Class A common stock being sold by an existing stockholder. In addition, Doximity granted the underwriters a 30-day option to purchase up to an additional 3,495,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions, which the underwriters exercised in connection with the closing. The gross proceeds from the offering to Doximity are expected to total approximately $585.1 million, before deducting underwriting discounts and commissions and other offering expenses payable by Doximity. Doximity will not receive any proceeds from the sale of shares by the selling stockholder.
Doximity is a leading digital platform for US medical professionals. The company provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits.
The Goodwin team was led by Heidi Mayon and Julia White, and included partners Jon Novotny, Lynda Galligan, John Casnocha, Anthony McCusker, Monica Patel, Brooks Brown, Roger Cohen, Bradley Weber, Todd Pollock, James Matarese, Kevin Lam, Kyle Tayman, Ettore Santucci, Koray Bulut, and Jacob Osborn; counsel Jacqueline Klosek; and associates Sona Karakashian, Eliza Chute, Elizabeth Doyon, Erica Kassman, Emily Goldenberg, Jesse Kalashyan, Alex Moser, Eric DiIulio, Nikhil Sethi, Claire Oxford, Katherine Kissinger, Nawa Lodin, Oren Stevens, Haley Patterson, Jocelyn Coney, Patrick Wilson, Samira Seraji, and Fiona Gaul, and paralegals Frances Dea and Pamela Finan.
For more details, read the press release.