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. Lime itself has not put out a valuation figure, so the numbers rest on the reported terms.
