XRAY - SmileDirectClub Files For Chapter 11 Bankruptcy Just Four Years After $1.35 Billion IPO | Benzinga
SmileDirectClub Inc. (NASDAQ: SDC), a dental aligner manufacturer, has filed for bankruptcy just a few years after its remarkable $1.35 billion IPO.
What Happened: The Nashville-based company made its Chapter 11 declaration in Texas this past week. The move will allow it to sustain operations while formulating a strategy to settle its debts.
As a part of the revival plan, the company's founders are set to pump a minimum of $20 million back into the business, according to Bloomberg.
SmileDirectClub introduced plastic aligners, presenting ...