Looking to sell up to $1B in stock, SmileDirectClub is currently on file confidentially and aiming to flip its IPO prospectus to be public sometime next month, with a debut targeted for September.
SmileDirectClub was most recently valued at $3.2B in a private fundraising round led by Clayton, Dubilier & Rice, Kleiner Perkins and Spark Capital.
The company competes with Align Technology (NASDAQ:ALGN), the publicly traded maker of Invisalign, which acquired a 17% stake in SmileDirectClub in 2016. Since then, the two have feuded.
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