Uber-backed Lime prices IPO at $25 per share, raises $174 million

Lime, the Uber-backed e-scooter and e-bike rental service, priced its initial public offering at $25 per share, Bloomberg News reported. That's the midpoint of the company's $24-26 range, and the offering raised about $174 million in total.

Who sold shares in the IPO

Neutron Holdings is the legal entity behind the Lime brand, and it sold 6.68 million shares in the IPO. Existing shareholders also sold some of their stock, including the company's CEO, Wayne.

• Offering price: $25 per share, the midpoint of the $24-26 range
• Total proceeds: about $174 million
• Neutron Holdings, Lime's legal entity, sold 6.68 million shares
• Sellers included existing shareholders and the company's CEO
• Bloomberg News was first to report the pricing

Why this stands out amid the AI-driven IPO boom

Lime is going public at a time when most investor money in the IPO market is flowing to AI companies and the computing infrastructure behind them. Against that backdrop, a successful listing by a shared e-mobility service with no direct connection to AI shows that the IPO window remains open for tech startups outside the AI segment. Still, the price landed at the conservative midpoint of the range rather than the top.

Uber has been one of Lime's key investors since the company's earlier funding rounds, which points to big tech platforms' interest in micromobility as a service that complements their own products.

How the deal works in terms of capital structure

Having Neutron Holdings, the legal entity behind the consumer-facing Lime brand, list the shares is standard practice for sharing-economy companies: the parent entity holds operating assets across many countries, and the IPO runs through the top-level holding company. Because existing shareholders, including the CEO, sold alongside the new issuance, part of the demand on the exchange went toward buying existing stakes rather than only raising new money for the company itself.

What this means

Lime's listing at the midpoint of its price range signals that investors are still willing to back private tech companies outside the AI sector, but they're doing so cautiously: demand was enough to fill the offering, but not enough to pay a premium above the company's own expectations.