Teeth-straightening startup SmileDirectClub tumbled in its stock market debut

The digital health company SmileDirectClub started trading on Thursday under the ticker SDC.

The stock tumbled below $20 after SmileDirectClub priced its shares at $23 apiece on Wednesday night.

SmileDirectClub was valued at $8.9 billion ahead of its first day of trading.

SmileDirectClub's offering is part of a wave of digital health companies entering the public markets after a three-year drought.

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The digital health company SmileDirectClub tumbled in its trading debut on Thursday.

The company had priced its shares at $23 apiece on Wednesday, but opened below that at $20.55. As of early Thursday afternoon, the stock was trading down 15% at $19.50.

The Nashville, Tennessee-based SmileDirectClub sold 58.5 million shares, raising $1.3 billion in the offering. The $23 a-share price valued SmileDirectClub at $8.9 billion.

SmileDirectClub sells clear aligners for teeth, an alternative to what you might get from an orthodontist. While it typically costs $3,000 to $7,000 to get traditional braces or Invisalign-brand aligners, SmileDirectClub goes for a fraction of that — you can either pay $1,895 up front or $2,290 spread out over two years.

Read more: These 10 buzzy digital health startups are poised to go public in the next 12 months

The idea behind SmileDirectClub is to make straightening teeth more affordable by cutting out the steps of going in person to a dentist or an orthodontist to get braces or other alignments. The company was started by Alex Fenkell and Jordan Katzman in 2014.

In October, SmileDirectClub raised $380 million from the private-equity firm Clayton, Dubilier & Rice and the venture firms Kleiner Perkins and Spark Capital. The round valued the company at $3.2 billion, up from $275 million just two years earlier.

Read more: SmileDirectClub's IPO could make the startup's top investors into billionaires.

According to the IPO filing, SmileDirectClub's net loss widened from $33.8 million in the first half of 2018 to $52.9 million in 2018. The company increased its customer count from 22,000 in 2016 to about 246,000 in the first half of this year.

数字健康公司SmileDirectClub周四开始交易，股票代码为SDC。周三晚上，SmileDirectClub以每股23美元的价格定价，股价跌至20美元以下。 SmileDirectClub在交易的第一天之前，它的价值为89亿美元。 SmileDirectClub的产品是一系列数字医疗公司在三年干旱后进入公开市场的一部分。访问Business Insider的主页了解更多故事。周四，数字医疗公司SmileDirectClub在首次交易中首次亮相。该公司周三以每股23美元的价格定价，但开盘价低于20.55美元。截至周四下午，股价下跌15％至19.50美元。总部位于田纳西州纳什维尔的SmileDirectClub售出5850万股股票，筹集资金13亿美元。每股23美元的价格使SmileDirectClub价值89亿美元。 SmileDirectClub为牙齿销售清晰的矫正器，是您从正牙医生那里获得的替代品。虽然获得传统支架或Invisalign品牌对准器的成本通常为3,000至7,000美元，但SmileDirectClub仅占其中的一小部分 - 您可以预付1,895美元或两年内支付2,290美元。阅读更多：这10个buzzy数字健康初创公司准备在未来12个月内上市.SumdenDirectClub背后的想法是通过减少亲自去看牙医或牙齿矫正医生以获得矫正器或其他对齐的步骤来使矫正牙齿更加实惠。该公司由Alex Fenkell和Jordan Katzman于2014年创立。 10月，SmileDirectClub从私募股权公司Clayton，Dubilier＆Rice以及风险投资公司Kleiner Perkins和Spark Capital筹集了3.8亿美元。该轮对该公司的估值为32亿美元，高于两年前的2.75亿美元。阅读更多：SmileDirectClub的首次公开募股可以使创业公司的顶级投资者成为亿万富翁。根据IPO文件，SmileDirectClub的净亏损扩大从3380万美元起2018年上半年到2018年达到5290万美元。公司将客户数从2016年的22,000增加到今年上半年的约246,000。