SmileDirectClub (SDC) IPO Opens 11% Lower

Today's IPO for SmileDirectClub Inc. (NASDQ: SDC) opened for trading at $20.55 after pricing 58,537,000 shares of its Class A common stock at a price to the public of $23.00 per share.

SmileDirectClub has granted the underwriters a 30-day option to purchase up to an additional 8,780,550 shares of Class A common stock at the initial public offering price less underwriting discounts and commissions.

J.P. Morgan and Citigroup are serving as lead book-running managers for the proposed offering. BofA Merrill Lynch, Jefferies, UBS Investment Bank and Credit Suisse are also acting as book-running managers for the proposed offering. Guggenheim Securities, Stifel, William Blair and Loop Capital Markets are also acting as co-managers for the proposed offering.

SmileDirectClub is the industry pioneer as the first direct-to-consumer medtech platform for transforming smiles. Through our cutting-edge teledentistry technology and vertically integrated model, we are revolutionizing the oral care industry. SmileDirectClub was founded by Alex Fenkell and Jordan Katzman in partnership with Camelot Venture Group. Available in the U.S., Canada, Australia, and the UK, SmileDirectClub is headquartered in Nashville, Tennessee.

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