initial public offerings (IPOs) trading on American exchanges

Friday, August 28, 2020

GoodRx (GDRX) files registration statement on Form S-1 relating to a proposed IPO

GoodRx, which collects data on drug prices and discounts to save consumers money, is preparing for a possible initial public offering.
  • The number of shares to be offered and the price range for the proposed offering have not yet been determined.
  • GoodRx intends to list its Class A common stock on the NASDAQ Global Select Market, under the ticker symbol GDRX.

The Santa Monica, California startup was founded in 2011. The GoodRx platform gathers information on retail drug prices from more than 70,000 pharmacies. It also provides coupons to help consumers with the high costs of prescription drugs. GoodRx has raised $1.5 million in funding, according to CrunchBase. Silver Lake invested in 2018, giving the company a $2.8 billion valuation at the time. Francisco Partners and Spectrum Equity invested in 2015.

GoodRx is one of several startups looking to disrupt the $400 billion pharmacy industry. NowRx, which provides same-day prescription delivery, raised $20 million in a B round of funding last month. Capsule Pharmacy also offers same-day delivery and collected $200 million in Series C funding last year.

The possible GoodRx offering comes during a resurgence in the IPO market. Covid-19 caused a three months pause in new issues earlier this year. This, along with low interest rates, has helped create pent-up demand for offerings. Several companies have seen their IPOs perform well including Lemonade (Ticker: LMND), nCino (NCNO) and ZoomInfo (ZI).

No comments:

Post a Comment