Lemonade Announces Launch of Initial Public Offering

NEW YORK–(BUSINESS WIRE)–Lemonade, Inc. (“Lemonade”) today announced that it has commenced the initial public offering of its common stock. Lemonade is offering 11,000,000 shares of its common stock. The initial public offering is expected to be between $23.00 and $26.00 per share. Lemonade expects to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the initial public offering price. The shares are expected to trade on the New York Stock Exchange under the ticker symbol “LMND.”

Goldman Sachs & Co. LLC, Morgan Stanley and Allen & Company LLC are acting as the managing bookrunners for the offering. Barclays is acting as a bookrunner. JMP Securities, Oppenheimer & Co., William Blair and LionTree are acting as co-managers for the offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from any of the following sources:

Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014; or
Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, via telephone: (212) 339-2220, or via email: allenprospectus@allenco.com.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Lemonade:

Lemonade offers homeowners and renters insurance in the United States, and contents and liability insurance in Germany and the Netherlands, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives excess premiums to nonprofits selected by its community during its annual Giveback. Lemonade is currently available for most of the United States, Germany and the Netherlands, and continues to expand globally.