- Insurance startup Lemonade made over $300 million in it's initial public offering, according to source.
- It raised 11 million shares at $29 per share, much higher than was originally planned.
- Visit Business Insider's homepage for more stories.
SoftBank Group Corp-backed insurance startup Lemonade raised $329 million in its US initial public offering (IPO), a person familiar with the matter said on Wednesday.
Lemonade priced 11 million shares at $29 per share, the source said. This was above its indicated price range, which it had raised to between $26 and $28 per share earlier on Wednesday. It had previously guided for the offering to be priced between $23 and $26 per share.
See the rest of the story at Business Insider
See Also:
- Lemonade's IPO plan will destroy one quarter of its $2 billion valuation. But analysts think the latest SoftBank startup could avoid WeWork's fate.
- Softbank-backed Lemonade wants to raise up to $286 million in an IPO — valuing the 'insurtech' firm at about 25% less than its latest funding round
- SoftBank's Masayoshi Son is stepping down from Alibaba's board as he focuses on shoring up SoftBank's shaky finances
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