Lime prices IPO at $25, raises $167M

Lime prices IPO at $25, raises $167M

Scooter sharing company Lime priced its IPO at $25 per share, raising $167 million, on Tuesday night.

Why it matters: The IPO will help Lime repay debt and continue to survive the brutal economics of renting electric scooters and bikes.

Zoom in: The San Francisco-based company sold 6.68 million shares, giving it a valuation of $1.6 billion based on outstanding shares.

  • The total proceeds from the offering could increase to $200 million, including shares sold by existing investors and if underwriters exercise the greenshoe option.
  • Lime plans to use $115 million of its IPO proceeds to pay debt that's maturing by the end of 2026.
  • Lime had "substantial doubt" about its ability to continue as a going concern without the IPO funds, according to its S-1.

    • Catch up quick: Founded in 2017, Lime rode the wave of VC-backed scooter startups, reaching a $2.4 billion valuation by 2019. Andreessen Horowitz was an early backer.

  • That height was followed by a pandemic-driven reset and recapitalization, which valued the company at $510 million.
  • Lime's largest investor before the IPO is Uber, which acquired shares when Lime took on its Jump bikes business.
  • Other pre-IPO investors include Bain Capital Ventures, Google Ventures and Fidelity.

    • Follow the money: Lime generated revenue of $887 million for the year ended 2025, up from $687 million in 2024.

  • The company, which has yet to generate a GAAP profit, generated a net loss of $59 million in 2025, compared to a loss of $34 million in 2024.

    • What's next: Lime plans to trade Wednesday morning on the Nasdaq under the ticker symbol "LIME."