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Illustration: Sarah Grillo/Axios

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday night 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%),

Go deeper

Felix Salmon, author of Capital
Dec 23, 2020 - Economy & Business

Group Nine's convoluted road to going public

Illustration: Annelise Capossela/Axios

This is what it looks like when a snake eats its own tail: Group Nine Acquisition Corp., a blank-check acquisition company, is being created by an entity called Group Nine SPAC LLC, which is a subsidiary of Group Nine Media, which in turn is going to be bought by Group Nine Acquisition Corp.

Why it matters: The gloriously convoluted structure manages to allow Group Nine Media to go public without having the normal scrutiny associated with a formal IPO — and also allows it to collect the hefty 20% sponsorship fee that a SPAC would normally charge.

Bryan Walsh, author of Future
Updated 6 hours ago - Technology

A dark view of the future of autonomous weapons

A still from the video "If Human: Kill ( )." Image: Future of Life Institute

A new short film warns of the coming risks posed by the development and proliferation of lethal autonomous weapons.

Why it matters: Drones with the ability to autonomously target and kill without the assistance of a human operator are reportedly already being used on battlefields, and time is running out to craft a global ban of what could be a destabilizing and terrifying new class of weapon.

Updated 6 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Coronavirus variant surveillance varies widely by state — Omicron cases confirmed in 5 U.S. states America probably won't lead the effort to understand Omicron.
  2. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Moderna loses patent battles tied to COVID vaccine — Pfizer could have vaccine data for children under five by end of 2021, CEO says.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate — Omicron travel bans are sign of what's to come.
  4. World: WHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming — Germany approves new restrictions for unvaccinated people.
  5. Variant tracker: Where different strains are spreading.