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GoodRx prices IPO at $33 per share, valued at $12.7 billion

Sep. 23, 2020 12:20AM EST
 Dan Ackermann

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%),

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