SmileDirectClub (SDC) files Chapter 11

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Go back to SmileDirectClub (SDC) files Chapter 11

SmileDirectClub Seeks to Execute Comprehensive Recapitalization to Strengthen the Business for Sustainable Growth

September 29, 2023 6:31 PM EDT

NASHVILLE, Tenn., Sept. 29, 2023 (GLOBE NEWSWIRE) -- SmileDirectClub, Inc. (Nasdaq: SDC), the next generation oral care Company with the first medtech platform for teeth straightening, today announced a process to implement a comprehensive recapitalization transaction. The additional capital and stronger financial position from this recapitalization is intended to bolster the Companys balance sheet and fuel growth initiatives to allow SmileDirectClub to thrive as an international oral care leader for many years to come.

SmileDirectClub will seek to recapitalize through a transaction where the Companys founders have committed to invest at least... More