GoodRx Soars Post-IPO, Gets a Rich Valuation

GoodRx is getting a very good reception from Wall Street on its opening day.



a close up of a bottle: GoodRx Soars Post-IPO, Gets a Rich Valuation


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GoodRx Soars Post-IPO, Gets a Rich Valuation

After pricing its IPO at $33 a share (above an initial range of $24 to $28), GoodRx opened at $46 and is currently trading at $48.38. That gives the company, which runs a website and mobile apps that consumers use to shop for prescription drug deals, a $21 billion valuation after accounting for outstanding stock options and restricted stock units (RSUs).

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GoodRx raised $773 million by selling 23.4 million shares, and existing shareholders sold another 11.2 million. IPO underwriters have an option (likely to be picked up) to buy another 5.2 million shares from the company at the IPO price, and PE firm Silver Lake is buying $100 million worth of shares from GoodRx at the IPO price through a private placement.

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