The unicorn’s assessment variety is not remarkable
Previously today, insurtech unicorn Lemonade submitted an S-1/ A, supplying context into how the previous startup might price its IPO and what the business might be worth when it begins to trade.
According to its brand-new filing, Lemonade expects its IPO to price at$ 23 to $26 per share. As the company means to sell 11 million shares in its launching, the leasing and home insurance-focused unicorn would raise in between $253 million and $286 million at those prices.
Counting an additional 1.65 million shares that it will provide to its underwriting banks, the company’s fundraise grows to $291 million to $328.9 million. Including shares used to underwriters, Lemonade’s implied assessment provided its IPO price variety ranges from $1.30 billion to $1.47 billion.
That’s the news. Now, is that expected assessment interval strong, and, if not, what might it portend for other insurtech start-ups? Let’s speak about it.
Not excellent, not terrible
TechCrunch is speaking with the CEOs of Hippo (property owner’s insurance) and Root (cars and truck insurance coverage) later on today, so we’ll get their notes in quick order regarding how Lemonade’s IPO is forming up, and if they are shocked by its rates targets.
Even without external commentary, the rates variety that Lemonade is at least at first targeting is not extremely impressive. That said, it’s stronger than I expected.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.