Market Overview

SmileDirectClub Opens Below IPO Price

SmileDirectClub Opens Below IPO Price

SmileDirectClub (NASDAQ: SDC) made its public debut Thursday morning, opening at $20.55 after being priced at $23 per share.

The company listed its shares on the Nasdaq under the ticker symbol "SDC."

See Also: SmileDirectClub IPO: What You Need To Know

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

Founded in 2014 by Michigan residents Jordan Katzman and Alex Fenkell, SmileDirectClub is a direct-to-consumer medtech platform that owns cutting-edge teledentistry technology and has a vertically integrated model.

The company's aligner treatment targets the underserved global orthodontics market. The company's business model bypasses the traditional orthodontic market in providing inexpensive orthodontic solutions delivered at the convenience of the consumer.

SmileDirectClub has 5 million unique monthly web visitors.

JPMorgan and Citigroup are the lead book-running managers for the offering, with Bank of America Merrill Lynch, Jefferies, UBS and Credit Suisse are also acting as book-running managers.

Posted-In: News IPOs Best of Benzinga


Related Articles (SDC)

View Comments and Join the Discussion!

Crypto Spotlight: Delta Expands Its Holistic Portfolio Management Tool

Aurora Investors Aren't Feeling The Buzz After Q4 Print: 2 Analyst Takes