Lime IPO Raises $174 Million, Shares Surge 8%
Lime, operating under the corporate name Neutron Holdings Inc., completed an initial public offering on the Nasdaq Global Select Market under the ticker LIME. The company priced 6,956,522 shares of common stock at $25.00 per share, of which 6,679,791 shares were offered by the company and 276,731 shares were sold by existing stockholders. The IPO generated gross proceeds of $174 million for Lime; proceeds from the secondary sale of existing stockholder shares did not flow to the company.
The shares opened at $27 each, representing an 8% increase over the IPO price and assigning Lime a market capitalization of approximately $1.73 billion. Underwriters received a 30‑day option to purchase up to an additional 1,043,478 shares at the IPO price, subject to customary underwriting discounts and commissions. Lime will not receive any proceeds from any exercise of this option.
Demand for the offering was reported to be about six times the number of shares available. Allocation was highly concentrated, with the ten largest investors in the offering receiving more than 75% of the total shares allocated. Mutual funds placed anchor‑sized orders that dominated the allocation.
Goldman Sachs & Co. LLC and J.P. Morgan acted as lead book‑running managers for the offering. Jefferies served as a book‑running manager, while Evercore ISI, Citizens Capital Markets, KeyBanc Capital Markets, Needham & Company, and William Blair acted as additional bookrunners. The offering is expected to close on July 2, 2026, subject to customary closing conditions.