Lime IPO Raises $167 Million at $25 per Share, Uber Eyes $20 Million Purchase
LIME•Lime raised approximately $167 million in its IPO by selling 6.68 million shares at $25 each, valuing the company at about $1.66 billion. Uber, holding a 24% stake, signaled interest in buying up to $20 million more, helping address Lime’s nearly $1 billion liabilities.
1. IPO Execution and Valuation
Lime sold 6.68 million shares at $25 each, raising $167 million in its founding public offering and achieving a $1.66 billion valuation.
2. Uber's Continued Support
Uber held a 24% stake pre-IPO and plans up to $20 million additional share purchase, maintaining its strategic partnership and customer integration.
3. Addressing Debt Obligations
Pre-IPO, Lime disclosed substantial doubt about its going concern, and intends to use the $167 million proceeds to tackle nearly $1 billion in liabilities, over half maturing by end-2026.
4. Growth Prospects and Risks
Lime will leverage Uber’s platform for over 14% of its rides revenue, but faces profitability challenges and competition in the capital-intensive micromobility market.
