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SmileDirectClub sets price at $ 23 for initial public offering



SmileDirectClub's online dental startup is set to go public with a set price of $ 23 per share, a trend higher than the company had previously proposed. to the rest of the Nasdaq today under the symbol "SDC." After visiting one of more than 300 company locations for a 3-D imaging session or using a home-home impression kit, each set of aligners fades into a customer's teeth. SmileDirectClub says it takes an average of six months for the teeth to reach the desired position. year, compared to $ 145 million the year before. There was a net loss of $ 74 million last year, up from $ 32 million last year, as marketing spending and other costs rose sharply.

A subscription to SmileDirectClub starts at $ 1

,895, which it says costs less than traditional orthodontic models. Its service also requires no personal visitation.

The company was endorsed by Golden State Warriors forward Draymond Green, who is both a customer and a business stakeholder. After wearing braces for five years and breaking a retainer, he ended up with SmileDirectClub to straighten his teeth.

"It's easy to take it and leave and then I can change the road," he said in a promotional video. "I did photoshoots with my liners – you just can't see it."

The company says it has more than 700,000 customers and represents more than 95 percent of the physician-led industry's clear aligner with the industry. SmileDirectClub also said that there is a lot of room to grow in the United States and the world of orthodontics markets, which is worth $ 945 billion.

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