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Something to Smile About? SmileDirectClub's IPO

Credit: The Street
Published on September 12, 2019 - Duration: 01:02s

Something to Smile About? SmileDirectClub's IPO

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 .

The company operates 300 centers, including partnerships with drugstore chains CVS and Walgreens , or customers can order doctor-prescribed teeth-alignment kits by mail.

Related: SmileDirectClub's Initial Public Offering Priced at $23 a Share CVS is a holding in Jim Cramer's Action Alerts PLUS member club.

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