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Lemonade targets down-round pricing in impending IPO

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Lemonade targets down-round pricing in impending IPO

Earlier at the moment, insurtech unicorn Lemonade filed an S-1/A, offering context into how the previous startup might worth its IPO and what the corporate could also be value when it begins to commerce.

According to its new submitting, Lemonade expects its IPO to cost at $23 to $26 per share. As the corporate intends to promote 11 million shares in its debut, the rental and residential insurance-focused unicorn would increase between $253 million and $286 million at these costs.

Counting an extra 1.65 million shares that it’s going to make accessible to its underwriting banks, the corporate’s fundraise grows to $291 million to $328.9 million. Including shares supplied to underwriters, Lemonade’s implied valuation given its IPO worth vary runs from $1.30 billion to $1.47 billion.

three questions for Lemonade’s IPO

That’s the information. Now, is that anticipated valuation interval robust, and, if not, what would possibly it portend for different insurtech startups? Let’s speak about it.

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Not nice, not horrible

TechCrunch is talking with the CEOs of Hippo (house owner’s insurance coverage) and Root (automotive insurance coverage) later at the moment, so we’ll get their notes in fast order concerning how Lemonade’s IPO is shaping up, and if they’re shocked by its pricing targets.

But even with out exterior commentary, the pricing vary that Lemonade is at the least initially focusing on just isn’t terribly spectacular. That stated, it’s stronger than I anticipated.

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