SmileDirectClub, which develops and sells at-home teeth straightening systems, raised $1.3 billion by offering 58.5 million shares at $23, above the range of $19 to $22. SmileDirectClub plans to list on the Nasdaq under the symbol SDC. J.P. Morgan, Citi, BofA Merrill Lynch, Jefferies, UBS Investment Bank and Credit Suisse acted as lead managers on the deal.
The article SmileDirectClub prices IPO at $23, above the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.