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Lemonade, Inc. ("Lemonade"), the insurance company powered by artificial intelligence and behavioral economics, today announced that it intends to offer 3,000,000 shares of its common stock for sale in an underwritten public offering (the "Primary Offering"). Certain selling stockholders of Lemonade also intend to offer 1,524,314 shares of Lemonade’s common stock for sale in the offering (the "Secondary Offering" and together with the Primary Offering, the "Offering"). Lemonade also intends to grant the underwriters 30-day options to purchase up to an additional 678,647 shares of Lemonade’s common stock.
Source: Yahoo Finance | Published on January 15, 2021
Lemonade intends to use its net proceeds from the Primary Offering for general corporate purposes. Lemonade will not receive any proceeds from the sale of shares by the selling stockholders in the Secondary Offering.
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Allen & Company LLC and Barclays Capital Inc. are serving as joint active bookrunners.
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