Lime IPO roadshow seeks $181 million at $1.8 billion valuation

Lime, the electrical scooter and e-bike rental company, filed an amended IPO registration connection with the U.S. Securities and Exchange Commission connected Monday, seeking to rise arsenic overmuch arsenic $180.9 cardinal astatine a valuation of up to $1.8 billion.

An further 276,731 shares volition beryllium sold by existing shareholders, a radical that includes CEO Wayne Ting, president Joseph Kraus, and co-founder Brad Bao. The company, registered nether the ineligible sanction Neutron Holdings Inc., has enactment 6,679,791 shares connected connection astatine a terms scope of $24 to $26. The institution has applied to database connected the Nasdaq Global Select Market nether the ticker awesome "LIME."

Entities affiliated with Uber Technologies person indicated an involvement successful purchasing up to $20 cardinal successful shares astatine the IPO terms connected the aforesaid presumption arsenic different buyers successful the offering, the institution said. The denotation is not a binding commitment, and Uber whitethorn acquisition more, fewer, oregon nary shares. Uber volition beryllium taxable to a lock-up statement that restricts income oregon transfers of shares it holds, with staggered releases implicit 2 years from the day of the prospectus.

Goldman Sachs, J.P. Morgan, and Jefferies are among the underwriters for the offering, according to Reuters. Lime intends to usage astir $115 cardinal of the nett proceeds to repay its outstanding elder secured word loan, with the remainder going toward wide firm purposes, the institution said.

Lime, which filed its archetypal IPO prospectus past month, operates a fleet of e-scooters and e-bikes disposable for short-term rental successful astir 230 cities spanning 29 countries. Revenue grew to $886.7 cardinal successful 2025 from $686.6 cardinal the anterior year, though the institution recorded a nett nonaccomplishment of $59.3 cardinal successful 2025 compared with a nett nonaccomplishment of $33.9 cardinal successful 2024.

Lime's narration with Uber has been cardinal to its business. Through an exclusivity agreement, Lime vehicles look arsenic a booking enactment wrong the Uber app successful astir each markets wherever the 2 companies run together, and the Uber transmission accounted for 14.3% of Lime's full gross successful 2025. A 2019 backing circular had enactment Lime's valuation astatine $2.4 billion, but that fig tumbled to $510 cardinal by 2020, the twelvemonth Uber spearheaded an concern successful the company, according to Bloomberg.

Substantially concurrently with the closing of the IPO, Lime besides intends to participate into a $200 cardinal syndicated elder secured revolving recognition installation with JPMorgan Chase Bank arsenic administrative agent, the institution said.