Wednesday, September 23, 2020

GoodRx Prices IPO

Santa Monica-based prescription and healthcare marketplace operator GoodRx has priced its IPO, saying late last night that it is offering up 34,615,384 shares of its Class A common stock at $33.00 per share. The company priced well above its initial offering range, which was $24.00 to $28.00 per share, indicating high investor interst in the company. GoodRx says is it selling 23,422,727 shares, with its existing shareholdering selling another 11,192,657 shares. The company begins trading this morning on the NASDAQ Global Select Market as GDRX. The company says it expects to net $725M after underwtigin discounts, commissions, and other expenses. The IPO is being underwritten by Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Barclays, along with BofA Securities, Citigroup, Credit Suisse Securities (USA) LLC, RBC Capital Markets, UBS Investment Bank, Cowen, Deutsche Bank Securities, and Evercore ISI, plus Citizens Capital Markets, KKR Capital Markets, LionTree Advisors, Raymond James, SVB Leerink, Academy Securities, Loop Capital Markets, R. Seelaus & Co., LLC and Ramirez & Co., Inc. GoodRx is backed by private equity firms Silver Lake, Francisco Partners, Spectrum, and Idea Men LLC.