Lemonade (LMND) IPO Opens 73% Higher

Today's IPO for Lemonade, Inc. (NYSE: LMND) opened for trading at $50.06 after pricing 11,000,000 shares of its common stock at a price of $29 per share.

Lemonade has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the initial public offering price.

Goldman Sachs & Co. LLC, Morgan Stanley and Allen & Company LLC are acting as the managing bookrunners for the offering. Barclays is acting as a bookrunner. JMP Securities, Oppenheimer & Co., William Blair and LionTree are acting as co-managers for the offering.

Lemonade offers homeowners and renters insurance in the United States, and contents and liability insurance in Germany and the Netherlands, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives excess premiums to nonprofits selected by its community during its annual Giveback. Lemonade is currently available for most of the United States, Germany and the Netherlands, and continues to expand globally.

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