Quick Take
SmileDirectClub (SDC) has filed to raise $1.2 billion from the sale of its Class A common stock in a U.S. IPO, according to an S-1/A registration statement.
The company provides a direct-to-consumer process for improving teeth alignment and related services.
SDC’s growth trajectory is high, but the firm’s negative operating and net results, extremely high and growing cash burn, reduced marketing efficiency and high valuation expectations lead me to believe this IPO is overpriced.
Company & Technology
Nashville, Tennessee-based SmileDirectClub was founded in 2013 to provide patients in need of