Lime, operating under Neutron Holdings, successfully priced its initial public offering on the Nasdaq at $25 per share, which was the midpoint of its marketed range of $24 to $26. This offering raised approximately $174 million in total, with Lime itself selling about 6.68 million shares for gross proceeds of roughly $167 million. Existing shareholders, including CEO Wayne Ting and co-founder Brad Bao, sold an additional 276,731 shares. The stock is set to trade under the ticker symbol LIME, with this pricing valuing the company between approximately $1.66 billion and $1.8 billion.
Uber, which holds more than 10% of Lime and guarantees some of its debt, played a crucial role as an anchor investor, lending credibility to the micromobility company, a sector that has faced struggles in recent years. Uber had indicated interest in purchasing $20 million worth of shares in the offering. Despite this successful pricing, Lime reported a net loss that widened to $59.3 million in 2025, up from $33.9 million the previous year, indicating continued cash burn even as its revenue grew to approximately $928 million in the 12 months leading up to March 31, 2026. Monthly active users also increased by over 20% year-on-year.
A significant portion of the IPO proceeds, estimated net proceeds of about $141.6 million, is slated for the repayment of a $115 million senior secured term loan with a 10% annual interest rate, maturing in September 2026. This debt repayment is strategic, as it will eliminate roughly $11.5 million in annual interest expenses and remove Uber's guarantee. Analysts note that this IPO is primarily a balance sheet repair transaction rather than a large injection of growth capital, as only about $19 million of the estimated base net proceeds will be available for working capital and other general corporate purposes. The IPO occurs during a quiet summer IPO window, making its successful midpoint pricing notable, signaling steady rather than exuberant investor demand.
