GoodRx Holdings, which operates a prescription drug price comparison platform, announced terms for its IPO on Monday.
The Santa Monica, CA-based company plans to raise $900 million by offering 34.6 million shares (32% insider) at a price range of $24 to $28. At the midpoint of the proposed range, GoodRx Holdings would command a fully diluted market value of $11.2 billion.
From its beginnings as a price comparison tool for prescriptions, GoodRx's platform now provides access to price transparency and affordability solutions for medications, affordable and convenient medical provider consultations via telehealth, and additional healthcare services and information.
GoodRx Holdings was founded in 2011 and booked $472 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol GDRX. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, BofA Securities, Citi, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Cowen, Deutsche Bank and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of September 21, 2020.
