The company intends to sell 11 million shares in the IPO, and has set a target range of $23-$26 apiece, according to a regulatory filing here
The higher end of the range gives the firm a valuation of $1.43 billion.
Lemonade’s IPO is an important moment for a number of modern insurance companies like Root, MetroMile, Kin and others. Not that they all sell the same type of insurance, mind, they don’t. Lemonade does rental and home insurance, while Root and MetroMile are focused on autos, for example. But if Lemonade manages a strong offering, it could provide tailwind to its fellow neo-insurance providers all the same.