Uber-backed bike and scooter rental company Lime prices its U.S. initial public offering at $25 per share, which sits in the middle of the marketed $24 to $26 range. Multiple reports say the offering raises roughly $167 million to $174 million in total proceeds, depending on the outlet’s figures and rounding. Lime’s corporate entity, Neutron Holdings, sells millions of shares in the deal, with underwriters including Goldman Sachs, JPMorgan and Jefferies. The company has been publicly exploring a debut for several years and presents the IPO as a way to attract new investors. Tech-focused coverage also reports that Lime plans to use the capital to address financial needs, including reducing around $1 billion in liabilities. Uber is a major shareholder, reported as holding about a 24% stake, and is said to express interest in buying additional shares in connection with the IPO. Reports also cite valuation figures around $1.8 billion for the IPO, with one outlet describing a $1.73 billion valuation at the Nasdaq debut.
Uber-backed Lime prices U.S. IPO at $25, raising about $167 million
Uber-backed bike and scooter rental company Lime prices its U.S. initial public offering at $25 per share, which sits in the middle of the marketed $24 to $26 range. Multiple reports say the offering...
- Lime, backed by Uber, prices its U.S. IPO at $25 per share within a $24 to $26 range.
- The IPO raises about $167 million to $174 million in total proceeds.
- Uber is Lime’s largest shareholder, with about a 24% stake, and is reported to have interest in buying more shares.
- Lime’s IPO deal is underwritten by Goldman Sachs, JPMorgan and Jefferies.
- The company says proceeds support general corporate needs, including paying down roughly $1 billion in liabilities.
The IPO window is showing more signs of life, with Uber-backed Lime raising $174 million in its public debut, pricing its shares right at the midpoint of the expected range. Lime CEO Wayne Ting says the company is going public to attract new investors, and is thinking about M&A, though "the bar is high." He joins Ed Ludlow from the Nasdaq on "Bloomberg Tech." (Source: Bloomberg)
1 month agoThe nine-year-old scooter and bike-share company has said it needs the funds to help pay down around $1 billion in liabilities.
1 month agoLime has priced its US initial public offering at $25 a share, according to Bloomberg News. That is the midpoint of the $24 to $26 range the company had marketed. The offering raised roughly $174m in total. Neutron Holdings, the corporate entity behind Lime, sold 6.68 million shares in the deal. Shareholders including chief executive Wayne […] This story continues at The Next Web
1 month agoShares are priced at $25 in the deal underwritten by Goldman Sachs, JPMorgan and Jefferies
1 month ago
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