---
schema_version: "secwatch.filing_event.v1"
accession: "0001775625-23-000109"
form_type: "8-K"
ticker: null
cik: "0001775625"
company_name: "SmileDirectClub, Inc."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:27:07.886882+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# SmileDirectClub files Chapter 11 bankruptcy; founders commit $20M+ for recapitalization

## Summary
- Company and certain subsidiaries filed Chapter 11 in SD Texas on Sept 29, 2023; operating as debtors-in-possession.
- Founders committed at least $20M, up to $60M additional capital; DIP financing expected to result in significant/total equity loss.
- Retention bonuses approved: CFO Troy Crawford ($300K) and CLO Susan Greenspon Rammelt ($350K) to stay through restructuring.
- Core business guidance: revenue $400-450M flat through 2025; gross margin expands from 74% to 78% by 2025.
- Growth initiatives (SmileMaker, CarePlus) could add ~$400M revenue and ~$250M EBITDA through 2025, but projections are aspirational.

## SEC filing metadata
- accession: 0001775625-23-000109
- form_type: 8-K
- cik: 0001775625
- company_name: SmileDirectClub, Inc.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775625/000177562523000109/0001775625-23-000109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775625/000177562523000109/sdc-20230925.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001775625-23-000109
- JSON: https://secwatch.observer/filing/0001775625-23-000109.json
- Plain text: https://secwatch.observer/filing/0001775625-23-000109.txt

## Key facts
- Distress & Bankruptcy
  SmileDirectClub, Inc. entered chapter 11 in U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (petition 2023-09-29).
  - Proceeding: chapter 11
  - Court: U.S. Bankruptcy Court for the Southern District of Texas, Houston Division
  - Petition: 2023-09-29
  source text: On September 29, 2023 (the “Petition Date”), SmileDirectClub, Inc. (the “Company” or “SDC”) and certain of its direct and indirect subsidiaries (collectively, the “Company Parties”) filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775625/000177562523000109/0001775625-23-000109-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.