Lemonade Announces Pricing of Initial Public Offering

NEW YORK--(BUSINESS WIRE)--Lemonade, Inc. (“Lemonade”) today announced the pricing of its initial public offering of 11,000,000 shares of its common stock at a price of $29.00 per share. Lemonade has granted 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 begin trading on the New York Stock Exchange on July 2, 2020 under the ticker symbol “LMND,” and the offering is expected to close on July 7, 2020, subject to customary closing conditions.

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.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on July 1, 2020. The offering is being made only by means of a prospectus, copies of which 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: [phone], or via email: [e-mail];
• 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: [phone], or via email: [e-mail].

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.