Neutron Holdings, Inc., which does business as Lime and describes itself as the largest global shared micromobility business, has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of common stock.
In its filing, the company said it intends to list its shares on The Nasdaq Global Select Market under the ticker symbol "LIME." The submission signals Lime's intention to transition from private ownership to a publicly traded company, though the registration did not set the number of shares to be offered or provide a pricing range for the potential transaction.
Goldman Sachs & Co. LLC and J.P. Morgan are identified in the filing as the lead book-running managers for the offering. Jefferies is listed as a book-running manager, and Evercore ISI, Citizens Capital Markets, KeyBanc Capital Markets, Needham & Company and William Blair are named as additional bookrunners.
The company emphasized that the proposed offering is subject to market conditions and to the SEC's approval of the registration statement. The filing makes clear there is no assurance as to the timing of the offering's completion or the final terms that would govern any sale of shares.
Because the registration statement has not yet become effective, the securities described in the filing cannot be sold until the SEC grants approval. If and when the offering proceeds, it will be carried out only through an official prospectus made available at that time.
At present, Lime's shares trade over-the-counter under the symbol OTC: LIME. A successful listing on Nasdaq would move the company from the OTC market onto a major U.S. exchange, reflecting a significant shift in its public market presence. Lime operates electric scooters and bikes in cities around the world.
Summary
Neutron Holdings, Inc. has filed to take Lime public via an IPO and plans to list on The Nasdaq Global Select Market under the ticker LIME. The filing leaves key offering details, such as the share count and price range, undecided and notes the offering requires SEC approval and favorable market conditions to proceed.
Key points
- Lime filed an SEC registration statement for a proposed IPO and intends to list on Nasdaq under the symbol LIME - impacting public equity markets and the micromobility sector.
- Goldman Sachs and J.P. Morgan are the lead book-running managers, with several additional firms serving as bookrunners - relevant to investment banking and capital markets activity.
- Lime currently trades OTC as OTC: LIME; a Nasdaq listing would move the company to a major exchange and change its public-market profile.
Risks and uncertainties
- The offering is conditioned on market conditions - public equity and investor sentiment could delay or alter the deal.
- SEC approval is required before the registration becomes effective; without that approval the securities cannot be sold.
- No assurance exists regarding the timing or final terms of the proposed offering, leaving execution and pricing uncertain for investors and stakeholders.