Alex Fenkell Jordan Katzman Smile Direct Club

Digital health company SmileDirectClub will start trading on Thursday under the ticker “SDC.”
The company priced its shares at $23 apiece on Wednesday, according to a source familiar with the offering.
The share price values SmileDirectClub at $8.9 billion ahead of its first day of trading.
SmileDirectClub’s offering is part of a wave of digital health companies entering the public markets after a three-year drought.
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Digital health company SmileDirectClub is set to go public on Thursday after pricing its initial public offering on Wednesday.

The company priced its shares at $23 apiece on Wednesday, according to a source familiar with the offering. The share price values SmileDirectClub at $8.9 billion ahead of its first day of trading.

Nashville-based SmileDirectClub sold 58.5 million shares, raising $1.3 billion in the offering.

SmileDirectClub sells clear aligners for teeth, as an alternative to what you might get from an orthodontist. While it typically costs anywhere from $3,000 to $7,000 to get traditional braces or Invisalign-brand aligners, SmileDirectClub goes for a fraction of that — you can either pay $1,895 up front, or a total of $2,290 spread out over two years.

Read more: These 10 buzzy digital health startups are poised …read more


Source:: Businessinsider – Finance

      

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