Uber-backed e-scooter firm Lime secures $174M in its U.S. public debut at the midpoint of its targeted range.
Lime, operating as Neutron Holdings (LME), raised $174M in its U.S. initial public offering after pricing shares at $25 each, the midpoint of its marketed range. The Uber Technologies-backed company offers short-term electric scooter rentals and aims to expand its micro-mobility services globally.
The IPO follows a period of growth for Lime, which has faced challenges in profitability amid rising competition in the shared mobility sector. The $25 price aligns with expectations, reflecting cautious investor sentiment toward emerging tech-driven transportation firms.
Shares are set to begin trading on the New York Stock Exchange under the ticker LME, with proceeds earmarked for operational expansion and debt reduction.