- Shares of SmileDirectClub SDC.O, a teeth alignment company, tumbled 10.7% in their market debut on Thursday, after the company’s initial public offering was priced above expectations.
SmileDirectClub had priced its initial public offering at $23 per share on Wednesday, above its initial target range of $19-$22, raising about $1.3 billion at a valuation of about $8.9 billion. The online dentistry startup reported total revenue of $423.2 million for the year 2018, a surge of about 190% from 2017. For the first six months of 2019, SmileDirectClub posted total revenue of 373.5 million.
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