Key facts
- Lime priced its IPO at $25 per share.
- The IPO is expected to raise approximately $141.6 million in net proceeds.
- Uber, a significant investor, may purchase up to $20 million in stock.
- The company plans to list on the Nasdaq under the ticker LIME.
Lime, the electric-bike and scooter rental company backed by Uber, has set its initial public offering price at $25 per share. This price falls at the midpoint of the company's previously announced range of $24 to $26 per share. At this valuation, Lime anticipates net proceeds of approximately $141.6 million from the sale of about 6.68 million shares. The total size of the offering could increase to nearly 6.96 million shares if underwriters exercise an option to purchase an additional 1.04 million shares. Current investors are also selling 276,731 shares. Uber, which holds a 24.4% stake in Lime, has expressed interest in purchasing up to $20 million worth of stock in the IPO. Following the offering, assuming the overallotment option is exercised, Lime expects to have approximately 65.1 million shares outstanding, resulting in a market capitalization of about $1.63 billion. The company has filed to list its shares on the Nasdaq Global Select Market under the ticker symbol LIME.