EL7.AI
StocksMedium•13 November 2026•
3 min read

vVARDIS prices IPO at $18 per share, offering 9,722,223 shares

Key Facts

1vVARDIS priced its offering at $18 per share, offering 9,722,223 Class A shares.
2The previous revised price range was $21 to $24 per share for 8.3 million shares.
3The company granted underwriters a 30-day option to purchase up to 1,458,333 additional shares.
4First-half 2026 revenue was $28.558 million, and net loss was $27.807 million.

vVARDIS set the price of its initial public offering at $18 per share and offered 9,722,223 Class A shares, according to a company statement issued on November 13, 2026. The pricing puts the share below the revised range reported by Reuters the previous day, of $21 to $24. The company had cut the size of its U.S. offering by more than 12%, targeting proceeds of up to $200 million, according to Reuters. The offering comes from a Swiss dental-treatment company, as volatility in technology stocks increases. The company said trading on the New York Stock Exchange is expected to begin on November 13 under the ticker VVVV.

The announced price updates the offering plan covered by Reuters on November 12, when it reported that the company intended to offer 8.3 million shares at $21 to $24 per share. The news agency compared this with an earlier plan for 9.5 million shares, with proceeds of up to $228.6 million. According to the same coverage, vVARDIS cut the offering size by more than 12%, bringing its maximum fundraising target to $200 million. The company's subsequent announcement confirmed a price of $18 per share and 9,722,223 Class A shares. vVARDIS granted underwriters a 30-day option to purchase up to 1,458,333 additional shares to cover over-allotments.

The New York Stock Exchange said in a filing to the U.S. Securities and Exchange Commission dated November 12 that it had approved the listing and registration of vVARDIS Holding AG's Class A ordinary shares. The filing said the shares have a par value of 0.006 Swiss francs. The listing approval concerns the procedures for registering the shares on the exchange, while the offering price and share count were set out in the company statement. According to the statement, trading was expected to begin on November 13 under the ticker VVVV. The company also expected the offering to close on or about November 16, subject to customary closing conditions.

Reuters linked the reduction in the offering size to rising market volatility, amid a sell-off in technology stocks associated with concerns about data-center spending and regulation. The news agency reported that Anthropic began roadshowing its anticipated offering in the same week, amid IPO activity that preceded vVARDIS's listing. The company is based in Zug, Switzerland, and was founded in 2020 by sisters and dentists Hale and Goli Abivardi. It develops non-invasive treatments under the Curodont brand and says they aim to repair and reverse early-stage tooth decay without drilling or injections. This places its business in the dental-treatment sector, while investors focus on the offering price and the number of shares on offer.

The registration statement filed with the Securities and Exchange Commission showed that the company's net revenue was $28.558 million in the first half of 2026, compared with $9.088 million in the same period of 2025. vVARDIS recorded a net loss attributable to the company's owners of $27.807 million in the first half of 2026. For the full year, net revenue was $30.209 million in 2025, up from $12.157 million in 2024. The company, however, recorded a net loss of $56.494 million in 2025. vVARDIS expected the offering to close on or about November 16, subject to customary closing conditions.