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SmileDirectClub files for IPO

SmileDirectClub Inc. has filed a registration statement for an initial public offering of its common stock.

The offering's proposed maximum aggregate price, estimated solely for the purpose of calculating the registration fee, is $100 million.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The company plans to list its shares on the Nasdaq Global Select Market under the symbol SDC.

Net proceeds from the offering are expected to be used to purchase newly issued limited liability company units from subsidiary SDC Financial LLC.

J.P. Morgan and Citigroup are serving as lead book-running managers for the proposed offering. BofA Merrill Lynch, Jefferies, UBS Investment Bank and Credit Suisse are also acting as book-running managers. Guggenheim Securities, Stifel, William Blair and Loop Capital Markets are acting as co-managers.