Dental aligner company SmileDirectClub Inc. filed for bankruptcy four years after raising $1.35 billion in an initial public offering.
The Chapter 11 filing in Texas on Friday allows the company to continue operating while it works out a play to repay creditors. The company’s founders will invest at least $20 million into the company as part of its reorganization, according to a statement.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.