The SmileDirectClub IPO is underway.
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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.
You can follow these
links to learn more about the SmileDirectClub IPO.
SDC stock was down 15% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
