Item 7.01. Regulation FD Disclosure.

In connection with discussions with certain holders of its 0.00% convertible senior notes due in 2026 (the "Noteholders") with respect to potential strategic or capital markets transactions (a "Potential Transaction") to enhance the capital structure of SmileDirectClub, Inc. (the "Company"), the Company entered into confidentiality agreements that require the Company to publicly disclose certain confidential information provided to such counterparties (the "Cleansing Material") upon the occurrence of certain events.

While discussions are ongoing as of the date hereof, the Company has not reached an agreement with respect to a Potential Transaction and there can be no assurances that any such agreement will be reached in the future, while the Company explores its other options. The latest proposed term sheets exchanged between the Company and the Noteholders concerning such a Potential Transaction contemplated a delayed draw term loan and an uptier exchange transaction with the Noteholders. The Company is furnishing the proposed term sheets as Exhibits 99.1 and 99.2 hereto and the Cleansing Material as Exhibit 99.3 in satisfaction of its obligations under such confidentiality agreements.

The information furnished in this Current Report on Form 8-K, including the information set forth in Exhibits 99.1, 99.2 and 99.3 attached hereto, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.





Forward Looking Statements

This Current Report on Form 8-K contains forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Forward-looking statements generally relate to future events and include, without limitation, projections, forecasts and estimates about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. Some of these statements may include words such as "expects," "anticipates," "believes," "estimates," "targets," "plans," "potential," "intends," "projects," and "indicates."

Although they reflect our current, good faith expectations, these forward-looking statements are not a guarantee of future performance, and involve a number of risks, uncertainties, estimates, and assumptions, which are difficult to predict. Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not necessarily limited to: the current noncompliance with the minimum bid requirement pursuant to the Nasdaq Listing Rules; the duration and magnitude of the COVID-19 pandemic and related containment measures; our management of growth; the execution of our business strategies, implementation of new initiatives, and improved efficiency; our sales and marketing efforts; our manufacturing capacity, performance, and cost; our ability to obtain future regulatory approvals; our financial estimates and needs for additional financing; consumer acceptance of and competition for our clear aligners; our relationships with retail partners and insurance carriers; our R&D, commercialization, and other activities and expenditures; the methodologies, models, assumptions, and estimates we use to prepare our financial statements, make business decisions, and manage risks; laws and regulations governing remote healthcare and the practice of dentistry; our relationships with vendors; the security of our operating systems and infrastructure; our risk management framework; our cash and capital needs; our intellectual property position; our exposure to claims and legal proceedings; and other factors described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2022.

Item 9.01. Financial Statements and Exhibits.






(d) Exhibits



Exhibit No.  Description

  99.1         Proposed Term Sheet from the Company to the Noteholders
  99.2         Proposed Term Sheet from the Noteholders to the Company
  99.3         Cleansing Materials
104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

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