Swiss dental startup vVardis shares fall in NYSE debut
VVVV•vVardis shares fell 22% in their NYSE debut after the dental health firm raised $175 million in an IPO priced at $18 per share, below its marketed range of $21 to $24.
1. IPO debut
vVardis shares opened at $14 on Friday, down 22% from their $18 IPO price. The Zug, Switzerland-based company sold 9.7 million shares, raising $175 million.
2. Dental treatments
Founded in 2020 by Swiss dentists and sisters Haley and Goly Abivardi, vVardis develops non-invasive dental treatments under its Curodont brand. The treatments are designed to repair and reverse early-stage tooth decay without drilling or injections.
3. Market backdrop
The article cited pressure on the U.S. IPO market from an AI-driven technology selloff and uncertainty over AI regulation and data center spending following the Democratic sweep of the midterm elections. It also cited turmoil surrounding Nvidia after Jensen Huang's resignation as CEO.
