Lemonade targets down-round pricing in impending IPO – TipsClear

Lemonade targets down-round pricing in impending IPO – TipsClear

The unicorn’s valuation range is not impressive

Earlier today, insurtech Unicorn Lemonade filed an S-1 / A, detailing how the former startup could pay the price of its IPO and what the company might value when it started trading.

As of its new filing, Lemonade expects its IPO to be priced from $ 23 to $ 26 per share. As the company initially intended to sell 11 million shares, rental and home insurance-focused Unicorn would grow between $ 253 million and $ 286 million at those prices.

Calculating the additional 1.65 million shares that it would make available to its underwriting banks, the company’s fund would increase from $ 291 million to $ 328.9 million. Among stocks offered to underwriters, its IPO price range ranges from $ 1.30 billion to $ 1.47 billion, given Lemonade’s implied valuation.

This is the news. Now, this expected valuation interval is strong, and, if not, what can it do for other Insurtech startups? Let’s talk about it.

Not great not terrible

TipsClear is talking later today with Hippo (homeowner’s insurance) and Root (car insurance) CEOs, so how are we shaping Lemonade’s IPO, and if they are surprised by its pricing goals , We will get your notes about them quickly.

But even without external commentary, the Lemonade is not very impressive, at least initially the target price range. He said, it’s stronger than I anticipated.

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