The SmileDirectClub IPO is underway.
Here are a few things that investors might want to know about the SmileDirectClub IPO.
The company is trading its stock on the NASDAQ under the ticker “SDC.”
The IPO for SmileDirectClub (NASDAQ:SDC) has its stock priced at $23 per share.
That comes in above its initial IPO price estimates of $19 to $22.
This has it raising $1.30 billion for the company by selling its 58.5 million shares.
It also values the company at $9 billion.
That’s a major bump up from its previous value of $3.20 billion from about a year ago.
When its comes to performance in 2018, SmileDirectClub reported revenue of $423.2 million.
That’s up from its revenue of $146 million reported in 2017.
However, to go along with the revenue increase was a net loss increase as well.
This saw the company reporting a net loss of $74.80 million in 2018, which is wider than its net loss of $32.78 million from 2017.
The goal of the company is to make changes to the orthodontics industry by offering customers cheaper ways to align their teeth.
This includes plastic liners that customers purchase and use to keep their teeth in place even after the alignment is done.
The cofounders of the company are Jordan Katzman and Alex Fenkell.
Their stakes in the company will be worth $1.5 billion and $1.6 billion after the SmileDirectClub IPO.
SDC stock was down 15% as of noon Thursday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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