Uber-backed Lime prices its IPO at $25 a share, raising about $174m
Lime 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 Ting, president Joseph Kraus, and co-founder Brad Bao sold a further 276,731 shares between them.
The stock is set to trade on the Nasdaq under the ticker LIME. Pricing at the midpoint values the company somewhere between about $1.66bn and $1.8bn.
For a category that has spent years in retreat, a clean landing at the midpoint counts as a result. Investors did not force a discount, and Lime did not have to reach for the top of its range either.
The pricing was first reported by Bloomberg and quickly matched across financial outlets....
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