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SmileDirectClub Files For $100M IPO

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SmileDirectClub Files For $100M IPO

SmileDirectClub has filed for an initial public offering of up to $100 million. The stock will list on the Nasdaq exchange under the ticker "SDC."

The teledentistry company provides invisible teeth-straightening devices. It was was co-founded in 2014 by Jordan Katzman and Alex Fenkell and is based out of Nashville, Tennessee. Similar to Align Technology's (NASDAQ: ALGN) Invisalign, SmileDirectClub produces 3D-printed clear aligners.

The startup has been at the forefront of a boom in at-home teeth straightening. In 2018, the company raised $380 million in a new funding round and was valued at $3.2 billion, according to Bloomberg.

Invest in IPO shares before the stock hits the market with ClickIPO. Check it out here

The global orthodontics market is growing, including traditional and clear braces. It's projected to reach $2.6 billion by 2023 from $1.5 billion in 2016, according to Allied Market Research.

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Posted-In: Alex Fenkell Invisalign Jordan Katzman SmileDirectClubNews IPOs Best of Benzinga

 

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