Lemonade (LMND) is planning to raise $270 million in an IPO on Thursday, July 2nd, IPO Scoop reports. The company will be issuing 11,000,000 shares at a price of $23.00-$26.00 per share.
In the last twelve months, Lemonade generated $82.5 million in revenue and had a net loss of $123.4 million. The company has a market-cap of $1.3 billion.
Goldman Sachs, Morgan Stanley, Allen & Company and Barclays Capital served as the underwriters for the IPO and JMP Securities, Oppenheimer, William Blair and LionTree were co-managers.
Lemonade provided the following description of their company for its IPO: ” Lemonade is rebuilding insurance from the ground up on a digital substrate and an innovative business model. By leveraging technology, data, artificial intelligence, contemporary design, and behavioral economics, we believe we are making insurance more delightful, more affordable, more precise, and more socially impactful. To that end, we have built a vertically-integrated company with wholly-owned insurance carriers in the United States and Europe, and the full technology stack to power them. “.
Lemonade was founded in 2015 and has 329 employees. The company is located at 5 Crosby Street, 3rd Floor, New York, NY 10013, US and can be reached via phone at (844) 733-8666 or on the web at http://www.lemonade.com.
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