SmileDirectClub falls 11per cent in US market debut

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Shares of SmileDirectClub , a teeth alignment company, tumbled 10.7per cent in their market debut on Thursday, after the company's initial public ...

REUTERS: Shares of SmileDirectClub , a teeth alignment company, tumbled 10.7per cent in their market debut on Thursday, after the company's initial public offering was priced above expectations.

The Nashville, Tennessee-based company said it intends to use the proceeds toward redeeming LLC units from its pre-IPO investors and fund a dividend to them and also pay bonuses and funding-related tax obligations.

 

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