GoodRx Holdings To Debut On Nasdaq Tomorrow
Santa Monica-based GoodRx Holdings, which operates a digital platform for consumer healthcare products and services, is scheduled to make its debut on the Nasdaq Global Select Market under the symbol “GDRX” on September 23, 2020.
Founded in 2011, GoodRx provides easy access to price transparency and affordability solutions for generic and brand medications, affordable and convenient medical provider consultations through its telemedicine platform and a free-to-use website and mobile app.
The company has offered to sell 23.42 million shares of Class A common stock and the selling stockholders are selling 11.19 million shares of Class A common stock in the offering. The initial public offering price is expected to be between $24.00 and $28.00 per share.
The underwriters have an option for 30 days to purchase up to 5.19 million additional shares.
Underwriters of the IPO:
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC,J.P. Morgan Securities LLC, Barclays Capital Inc.,BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, UBS Securities LLC, Cowen and Company, LLC, Deutsche Bank Securities Inc., Evercore Group L.L.C., Citizens Capital Markets, Inc., KKR Capital Markets LLC, LionTree Advisors LLC, Raymond James & Associates, Inc., SVB Leerink LLC, Academy Securities, Inc., Loop Capital Markets LLC, R. Seelaus & Co., LLC, Samuel A. Ramirez & Company, Inc.
GoodRx’s mobile app helps consumers find the lowest local prices for their prescriptions, saving at least 80% of the cost.
On average, GoodRx app is the most downloaded medical app on the Apple App Store and Google Play App Store for the last three years, the company said in its filing.
For the second quarter of 2020, the company experienced 4.4 million Monthly Active Consumers and 15 million Monthly Visitors. Since 2011 through June 30, 2020, Americans with and without health insurance have saved more than $20 billion using GoodRx, according to the company.
Lab42 Research LLC July 2020 survey found that 68% of health care providers recommended the GoodRx app to customers.
The Company generates revenue from prescription transaction fees generated when pharmacies fill prescriptions for consumers, from subscription, advertising and telehealth services.
For the six month ended June 30, 2020, GoodRx’s net income attributable to common stockholders climbed to $35.6 million or $0.15 per share from $20.2 million or $0.09 per share in the comparable period last year.
Revenue for the period rose to $256.7 million from $173.2 million a year ago.
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