Uber offered it to the drivers. Airbnb did it for hosts. Now Doximity is making it available to doctors, but in a much bigger way. In its IPO prospect

Doximity information for going public and says medical doctors are getting an allotment

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2021-05-29 04:07:31

Uber offered it to the drivers. Airbnb did it for hosts. Now Doximity is making it available to doctors, but in a much bigger way.

In its IPO prospectus on Friday, health tech company Doximity – often referred to as LinkedIn for Doctors – announced that it will allocate up to 15% of the shares in the Doctors offering through a “reserved share program”.

This means eligible doctors can get shares at the same price as the select group of institutional investors who so often benefit from the IPO pop because they get an early allocation and don’t have to wait for trading to start. Doximity hasn’t yet said how many shares it plans to issue or at what price. In order to qualify for the program, members must meet certain activity thresholds.

“We strive to be the world’s largest physician-owned technology company, and our reserved stock IPO program is designed to both thank our members and help the process,” wrote co-founders Jeff Tangney, Nate Gross and Shari Buck in the Founder’s Letter section of the prospectus.