Lemonade elevated $319 million in its first community featuring on Wednesday.
The on the web insurance policy organization sold 11 million shares priced at $29 every single. Underwriters for the IPO will have an alternative to invest in an supplemental 1.sixty five million shares in a 30-day window.
Goldman Sachs Group, Morgan Stanley, and Allen & Corporation are the taking care of bookrunners for the featuring.
Lemonade priced the shares over its indicated selection of $26 to $28.
The IPO values the New York-based organization at $1.6 billion, substantially lessen than the $2.1 billion pre-money valuation it received as element