Lime plans to name Uber as anchor investor in IPO, The Information reports
Key Developments in Lime's Upcoming IPO
Uber's Role as Anchor Investor
June 21 (Reuters) - Lime, which operates an electric bike and scooter network, plans to name ride-hailing firm Uber as an anchor investor in its U.S. initial public offering, The Information reported on Sunday, citing a source.
Investment Details and IPO Prospectus
• Uber is expected to invest a "meaningful" amount in the deal and be named as an anchor investor on the cover of an updated IPO prospectus that Lime plans to file on Monday, the report said.
Verification and Responses
• Reuters could not immediately verify the report. Uber and Lime did not immediately respond to Reuters' requests for comment.
Lime's Financial Backing and IPO Objectives
Backing and Public Filing
• San Francisco-based startup Lime is backed by Uber Technologies. It filed to go public in the United States in May.
Use of IPO Proceeds
• Lime intends to use the IPO proceeds to fund operations, repay all its debt, and invest or acquire complementary technologies, assets or intellectual property.
Uber's Financial Guarantees
• Uber has guaranteed a $115 million Lime loan due in September, according to the report.
Fundraising and Valuation
Road Show and Capital Raise
• Separately, Lime plans to start talks with IPO investors on a road show this week to raise about $200 million at about $1.8 billion valuation, the report said.
Revenue Growth
• The startup reported a jump in annual revenue in its filing for the U.S. initial public offering in May.
Reporting Credits
(Reporting by Preetika Parashuraman in Bengaluru; Editing by Subhranshu Sahu)
