SmileDirectClub Seeks to Raise Up to $1.29b in IPO (1)

SmileDirectClub sets IPO at 58.5 million shares and expects price to be between $19 to $22 per share, according to an amended filing.

• Sees using about $493.4m of proceeds to purchase limited liability company units of subsidiary SDC Financial and Class A shares from existing holders
• NOTE: On Aug. 16, the company filed for an initial public offering, one that market-watchers say will sell $1 billion worth of shares when it closes this fall
• Although not yet profitable, SmileDirect is valued at $3.2 billion.

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