Smile Direct Club Files Registration Statement with SEC for Proposed Initial Public Offering

NASHVILLE, Tenn., Sept. 3, 2019 /PRNewswire/ -- SmileDirectClub, Inc. ("SmileDirectClub"), the industry pioneer and first direct-to-consumer medtech platform for transforming smiles, today announced that it has launched the road show for its initial public offering of shares of its Class A common stock. SmileDirectClub is offering 58,537,000 shares of its Class A common stock. The initial public offering price is expected to be between $19.00 and $22.00 per share, before underwriting discounts and commissions. In addition, SmileDirectClub expects to grant the underwriters a 30-day option to purchase up to an additional 8,780,550 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. SmileDirectClub has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol "SDC."

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 for the proposed offering. Guggenheim Securities, Stifel, William Blair and Loop Capital Markets are also acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, may be obtained for free from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 866-803-9204, email: [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 800-831-9146. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SmileDirectClub

SmileDirectClub is the industry pioneer as the first direct-to-consumer medtech platform for transforming smiles. Through our cutting-edge teledentistry technology and vertically integrated model, we are revolutionizing the oral care industry. SmileDirectClub was founded by Alex Fenkell and Jordan Katzman in partnership with Camelot Venture Group. Available in the U.S., Canada, Australia, and the UK, SmileDirectClub is headquartered in Nashville, Tennessee.

Forward Looking Statements

This press release includes certain disclosures which contain "forward-looking statements." You can identify forward-looking statements because they contain words such as "believes" and "expects." Forward-looking statements, including statements regarding the size, timing and expected price range of the initial public offering, are based on SmileDirectClub's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in SmileDirectClub's registration statement on Form S-1, as amended from time to time, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. SmileDirectClub undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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SOURCE SmileDirectClub, Inc.