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Lemonade prices IPO at $29, above the upwardly revised range

July 1, 2020
LMND

Lemonade, which provides online self-serve renters and homeowners insurance, raised $319 million by offering 11 million shares at $29, above the upwardly revised range of $26 to $28. The company had originally filed for a price range of $23 to $26. Baillie Gifford, a new investor, indicated an interest in purchasing $100 million of the IPO. Lemonade plans to list on the NYSE under the symbol LMND. Goldman Sachs, Morgan Stanley, Allen & Company and Barclays acted as lead managers on the deal.