GoodRx Holdings Inc., a leading consumer-focused digital healthcare platform in the United States, has announced the pricing of its initial public offering of 34,615,384 shares of its Class A common stock at a price to the public of $33 per share. Of the offered shares, 23,422,727 shares are being offered by GoodRx and 11,192,657 shares are being offered by certain of GoodRx’s existing selling shareholders. The underwriters have a 30-day option to purchase up to an additional 5,192,307 shares of Class A common stock from GoodRx at the initial public offering price less underwriting discounts and commissions. GoodRx will not receive any proceeds from any sale of shares by the selling shareholders. The shares began on the NASDAQ Global Select Market on September 23, 2020, under the ticker symbol “GDRX”. The offering is expected to close on September 25, 2020, subject to customary closing conditions. GoodRx will receive net proceeds of approximately US$725 million after deducting underwriting discounts and commissions and offering expenses, and intends to use the net proceeds from the initial public offering for general corporate purposes to support the growth of its business.
Latham & Watkins LLP represented GoodRx in the offering with a capital markets deal team led by New York partners Marc Jaffe and Benjamin Cohen and Bay Area partner Brian Cuneo, with Orange County associates Ross McAloon and Jacob Walsh and Bay Area associate Natalie Robertson. Advice was also provided on healthcare regulatory matters by Bay Area counsel Betty Pang; on data privacy and security matters by Bay Area counsel Heather Deixler; on benefits & compensation matters by Los Angeles partner Michelle Carpenter, with Los Angeles associate Rachel Narowski; on tax matters by Bay Area partner Grace Lee, with Orange County associate Janet Hsu; and on intellectual property matters by Bay Area partner Rick Frenkel, with San Diego associate Kamilah Alexander.