GoodRx prices IPO at $33 per share, valued at $12.7 billion
23 September 2020
GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday raised $1.14 billion in its IPO, Axios has learned.
By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.
- The company will begin listing Wednesday on the Nasdaq under ticker GDRX, and used Morgan Stanley as lead underwriter.
- It reports nearly $55 million of net income on $257 million in revenue for the first half of 2020, making it one of precious few profitable tech startups to go public.
- Existing investor Silver Lake agreed to buy another $100 million of stock via the IPO. Prior to the IPO, Silver Lake had a 35.3% ownership stake.
- Other investors include Francisco Partners (23.7% pre-IPO stake) and Spectrum Equity (15.4%),
Transcripts show George Floyd told police "I can't breathe" over 20 times
Section2Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.
Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.
The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.
- The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.
What the transcripts say:
- Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
- The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
- Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."
Read the transcripts via DocumentCloud.