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GoodRx IPO: 6 Things for Potential GDRX Investors to Know

The GoodRx IPO could raise more than $900 million

The novel coronavirus continues to elevate investor interest in all things healthcare. Vaccines, antibody treatments, telemedicine services, you name it. Now, on the back of that trend, GoodRx is looking to come public. Here is everything investors need to know about the GoodRx IPO.

The GoodRx app is displayed on a mobile phone screen.
Source: NYC Russ / Shutterstock.com

GoodRx represents a solution to seemingly everything that is wrong with the pharmaceutical space. At the heart of the startup is a goal of making prescription drugs more affordable. To do so, it provides consumers coupons and helps match them with the best and most accessible pharmacies. More recently, the company has also expanded its offerings, providing information about prescription drug pricing.

What else do you need to know ahead of the GoodRx IPO?

  • GoodRx has filed to trade on the Nasdaq Exchange under the ticker GDRX.
  • According to its filing Monday with the U.S. Securities and Exchange Commission, the company plans to raise more than $900 million from the initial public offering.
  • As part of that, GoodRx anticipates pricing shares between $24 and $28. At the midpoint, the GoodRx IPO would give the company a market value of $11.2 billion.
  • The IPO will involve 34.6 million shares. Roughly a third — 11.2 billion — will come from insiders who are selling their stock.
  • After the IPO, there will be 38.5 million Class A shares outstanding and 345.6 Class B shares outstanding.
  • Class A shares will come with one vote each, and Class B shares come with 10 votes each.

Why Does the GoodRx IPO Matter?

GoodRx is choosing to come to the public markets at a time when healthcare is in focus. Not only are investors excited about what companies can offer, there is also a broader belief that things need to change. For instance, as millions of Americans continue to deal with unemployment, there has been a concern over how many individuals have recently lost their health insurance.

Ahead of its IPO, it appears that GoodRx combines the best of both worlds. It caters to bullish investors ready to dive into red-hot offerings and an often speculative sector. But GoodRx also caters to those who want to see real reform in healthcare. For instance, both President Donald Trump and former Vice President Joe Biden have identified lowering the cost of prescription drugs as key healthcare initiatives. Bipartisan support that aligns with the company mission is a great thing.

Additionally, GoodRx has also expanded into telemedicine, providing virtual consultations with doctors. The coronavirus has broadly boosted adoption of such services, and investors should like that GoodRx is a one-stop shop. Promoting accessibility, transparency and all of the innovation that investors so love, this IPO could really be a coronavirus winner.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Sarah Smith is a Web Content Producer for InvestorPlace.com. 


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/goodrx-ipo-6-things-for-potential-goodrx-investors-to-know/.

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