, a mobile-based insurance start-up that seeks to court millennials, priced its initial public offering above the expected range Wednesday. After the close Wednesday, Lemonade priced 11 million shares at $29 apiece, above the already increased range of $26 to $28 from earlier in the day. Underwriters have another 1.7 million shares to cover overallotments over the next 30 days. The stock is expected to begin trading under the ticker "LMND" on the New York Stock Exchange on Thursday.
Insurer Lemonade set terms for its initial public offering on Thursday, with plans to offer 11 million shares priced at $23 to $26 each. The company would raise $286 million at the top of the range. The company has applied to list on the New York Stock Exchange, under the ticker symbol "LMND." There are eight banks underwriting the deal, led by Goldman Sachs. Proceeds of the deal will be used for general corporate purposes.
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