The offering includes roughly 6.68 million shares sold directly by the San Francisco-based company, with current investors liquidating an additional 276,731 shares. Assuming underwriters exercise their full option to acquire 1.04 million extra shares, the company’s total market capitalization reaches approximately $1.63 billion.
In section Market Quotes
Lime Enters Public Markets With $1.63 Billion Valuation
Priced at $25 a share, the electric-scooter provider Lime raised $167 million in its initial public offering Tuesday night. The company, operating under Neutron Holdings, settled at the midpoint of its projected range, setting the stage for its debut on the Nasdaq Global Select Market under the ticker symbol LIME.
Strategic partner Uber, which maintained a 24.4% stake prior to the float, signaled intent to purchase up to $20 million of the newly issued stock. Trading is scheduled to commence Wednesday, marking a significant transition for the micromobility firm as it moves from private ownership to public exchange listings.
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