Now here’s an initial public offering that may or may not make investors smile.
Teeth-straightening provider SmileDirectClub late Wednesday announced that its class A shares were priced at $23 a share, slightly above the $19- to $22-a-share range it had said it would be targeting.
At that price, the deal will raise $1.35 billion for the Nashville-based company. Last October, SmileDirectClub was valued at $3.2 billion in a private fundraising round led by Clayton, Dubilier & Rice, Kleiner Perkins and Spark Capital.
SmileDirectClub said the shares will begin trading Thursday on the Nasdaq Stock Market under the symbol ” (SDC) .”
The company operates 300 centers, including partnerships with drugstore chains CVS (CVS – Get Report) and Walgreens (WBA – Get Report) , or customers can order doctor-prescribed teeth-alignment kits by mail.
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