Softbank backed insurance company Lemonade files for IPO
The number of shares to be offered and the price range has not been announced
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The insurance company Lemonade has announced its intention to become a publicly traded company.
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The company has filed the paperwork with the Securities and Exchange Commission with plans to sell shares to the public and trade on the New York Stock Exchange under the symbol LMND.
The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Lemonade is among the startups that has Softbank in its investor group. Softbank has also invested in Uber and WeWork.
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The company offers renters and home insurance policies for homes, apartments, co-ops and condos.
Lemonade delivers insurance policies and handles claims through desktop and mobile apps using chatbots.
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Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Allen & Company LLC are acting as the managing bookrunners for the proposed offering.
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Lemonade is currently available for most of the United States, Germany and the Netherlands, and continues to expand globally.