Lime, operating under the corporate name Neutron Holdings Inc., experienced an 8% uptick in its debut on the Nasdaq Global Select Market after completing an initial public offering that raised $174 million. Trading began with shares opening at $27 each under the ticker symbol LIME, above the offering price of $25 and implying a market capitalization near $1.73 billion.
The company priced the IPO at $25.00 per share for a total of 6,956,522 common shares. Of those, Lime itself sold 6,679,791 shares while certain existing stockholders sold 276,731 shares. The filing also granted the underwriters a 30-day option to buy up to an additional 1,043,478 shares at the IPO price, less customary underwriting discounts and commissions.
It is important to note that Lime will not receive proceeds from any shares sold by the selling stockholders. Proceeds raised in the offering attributable to the shares sold by existing holders will go to those selling stockholders rather than to the company.
According to people familiar with the matter cited in earlier reporting, demand for the offering was roughly six times greater than the number of shares available. Allocations were heavily concentrated, with the 10 largest participants in the deal taking more than 75% of the shares. Those allocations were largely from mutual funds placing anchor-sized orders.
Goldman Sachs & Co. LLC and J.P. Morgan served as lead book-running managers for the offering. Jefferies acted as a book-running manager, with Evercore ISI, Citizens Capital Markets, KeyBanc Capital Markets, Needham & Company and William Blair participating as additional bookrunners. The offering is expected to close on July 2, 2026, subject to customary closing conditions.
Summary of the deal mechanics and market debut:
- The IPO consisted of 6,956,522 common shares priced at $25 each.
- Lime raised $174 million in the offering, with shares opening at $27, up 8% from the IPO price.
- An underwriter option for up to 1,043,478 additional shares was granted for 30 days.
The initial aftermarket strength, reflected in the opening price above the IPO level, followed substantial oversubscription and concentrated allocations among a small group of investors. The split between shares sold by the company and shares sold by existing stockholders was disclosed, as was the fact that Lime will not receive proceeds from sales by those existing holders.
Market participants and observers should note the post-IPO timeline: closing of the offering is anticipated on July 2, 2026, pending routine closing conditions. The book-running syndicate was led by major investment banks and supported by several regional and specialty firms, as listed above.