Lime IPO: LIME Stock Terms, Valuation, Uber's Stake, and the S-1 Risks (June 2026)
Lime, the Uber-backed electric-bike and scooter company, launched the roadshow for its initial public offering on Monday, June 22, 2026, one of the year's most closely watched consumer listings. The company, formally Neutron Holdings, Inc., plans to trade on the Nasdaq Global Select Market under the ticker LIME and is expected to price the week of June 29, 2026. Below are the terms, the financial picture, the debt and going-concern disclosures in the filing, and Uber's role.
Lime IPO at a glance (from the S-1/A and launch announcement):
- Ticker / exchange: LIME on the Nasdaq Global Select Market
- Price range: $24.00 to $26.00 per share
- Shares offered: 6,956,522 total, of which 6,679,791 are sold by the company and 276,731 by existing stockholders
- Underwriter option: up to 1,043,478 additional shares (30-day)
- Gross proceeds: about $174 million at the $25 midpoint, or about $181 million at the top of the range
- Estimated net proceeds to Lime: about $141.6 million at the midpoint
- Lead book-running managers: Goldman Sachs and J.P. Morgan (with Jefferies and others)
- Expected pricing: week of June 29, 2026
Lime IPO terms: LIME ticker, price range, and shares
Lime is offering 6,956,522 shares of common stock, with 6,679,791 sold by the company and 276,731 by existing stockholders, at a price range of $24.00 to $26.00, according to its registration statement on Form S-1. Underwriters hold a 30-day option for up to 1,043,478 additional shares. The filing reflects a single class of common stock, so there is no dual-class voting structure of the kind seen in some recent tech listings. Lime intends to list on the Nasdaq Global Select Market under LIME. For a primer on how to read the prospectus behind a listing like this, see our guide to S-1 filings.
How much Lime could raise
At the $25 midpoint of the range, the roughly 6.96 million shares imply about $174 million in gross proceeds, rising to about $181 million at the $26 top of the range. Because 276,731 of the shares are being sold by existing holders, not all of that goes to the company. Lime estimates net proceeds to itself of about $141.6 million at the midpoint, and says it intends to use roughly $115.0 million to repay its Senior Secured Term Loan, with the remainder for general corporate purposes. Reports peg the implied valuation in a range of roughly $1.66 billion, per CNBC, to about $1.8 billion, per Quartz, with the spread reflecting different measures (such as basic versus fully diluted shares).
Neutron Holdings financials: revenue, net loss, and adjusted EBITDA
Lime's filing shows strong revenue growth alongside a continuing GAAP net loss. Revenue reached $886.7 million in 2025, up about 29% from $686.6 million in 2024. On a GAAP basis the company reported a net loss of $59.3 million in 2025, wider than its $33.9 million loss in 2024. At the same time, Lime reports a non-GAAP adjusted EBITDA of $218.1 million for 2025; adjusted EBITDA excludes items such as interest, taxes, depreciation, amortization, and other adjustments, so it is not a substitute for the GAAP net loss but reflects positive non-GAAP profitability before those adjustments. On a cash basis, Lime says it generated positive free cash flow for full-year 2025, though free cash flow turned negative by about $79.2 million in the first quarter of 2026, which it attributes partly to seasonality and the timing of fleet capital spending. To put scale in context, Lime says it operated in about 230 cities across 29 countries as of December 31, 2025, and served roughly 19 million riders during the year.
Lime debt and going-concern risk
The most important disclosure for investors sits in the filing's risk and liquidity sections. Lime reports about $845.8 million of debt principal payments due within 12 months as of March 31, 2026, against cash and equivalents of about $261.3 million, and the filing carries explicit substantial-doubt, going-concern language: the company states it does not currently have sufficient liquidity to repay those lenders, and that its ability to continue as a going concern depends on completing the IPO and the related refinancing. The roughly $141.6 million of net proceeds, including the planned $115.0 million Senior Secured Term Loan repayment, does not by itself cover that near-term maturity wall; Lime has said it expects to address the balance through refinancing. This is a description of the company's disclosed financial condition, not a prediction of the outcome.
Uber's Lime stake and IPO interest
Uber Technologies (NYSE: UBER) is Lime's largest outside shareholder. Uber became a major holder in 2020 when it transferred its Jump electric-bike business to Lime, and the S-1/A shows Uber holding 14,021,438 shares, about 24.4% before the offering and roughly 21.9% afterward. Uber affiliates have indicated a non-binding interest in purchasing up to $20 million of shares in the IPO, which is an indication of interest rather than a committed anchor order. Lime rides are also bookable through the Uber app in many markets, making Uber both a large owner and a distribution partner.
Lime IPO date: pricing and trading timeline
Pricing is expected the week of June 29, 2026, when Lime and its underwriters set the final share price and the stock begins trading on Nasdaq under LIME. As is typical for an IPO, insiders face lock-up restrictions: the filing describes a general lock-up of about 160 days for the company, directors, officers, and selling and certain other stockholders, while Uber is subject to a separate, staggered lock-up of up to about two years on its pre-offering shares (shares Uber buys in the IPO itself are not covered by that Uber-specific lock-up). For how share sales like this can dilute existing holders, see our explainer on stock offerings and dilution.
Key S-1 risks before LIME stock trades
Beyond the going-concern and debt-maturity disclosures, the prospectus flags risks common to micromobility and worth understanding before the stock trades. Key disclosed issues include dependence on city permits and a shifting regulatory environment, seasonality and weather sensitivity in ridership, the capital intensity of owning and maintaining a vehicle fleet, the history of net losses, and reliance on the Uber relationship and app integration. None of these is a verdict on the company; they are the factors the filing itself identifies as material.
This article is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security, including participation in any initial public offering. IPO terms, financials, valuation figures, and risk disclosures are as stated in Neutron Holdings' SEC filings and launch announcement and as reported by the sources cited, and remain subject to change until the offering prices. Always do your own research or consult a licensed financial professional before making investment decisions.
Last Updated: June 22, 2026.
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.