SmileDirectClub files $100M IPO


Share on Facebook
SmileDirectClub filed its initial public offering Aug. 19, after weeks of rumors that the company would be going public, according to CNBC.

The direct-to-consumer teeth-straightening service company is seeking to raise $100 million in the IPO, according to the filing. SmileDirectClub wants to list on the Nasdaq Global Select Market under the symbol "SDC."

SmileDirectClub will offer two classes of common stock. Class A stock shareholders will have one vote per share while Class B shareholders will have 10 voters per share and no economic rights, CNBC reports.

In 2018, SmileDirectClub reported $423.2 million in revenue. For the six months ended June 30, the company's revenue totaled $373.5 million, more than double the same period in 2018.

More articles on dental:
Dr. Kristin Wade completes Academy of General Dentistry fellowship — 3 insights
Connecticut dentist crashes two cars in same day — 5 insights
California dental practice opening 3rd location

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months