Lemonade, Inc. (Lemonade), the insurance company powered by artificial intelligence and behavioral economics, has announced the pricing of its initial public offering of 11,000,000 shares of its common stock at a price of US$29 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.
Latham & Watkins LLP represented Lemonade in the offering with a corporate team led by New York partner Marc Jaffe and Washington, D.C. partner Rachel Sheridan, with associates John Slater, Roger Yarett, Zoey Wu, and Matt Schlanger. Advice was also provided on benefits and compensation matters by New York partner Bradd Williamson, with counsel Rifka Singer and associate Anne Bracaglia; and on tax matters by New York partner Lisa Watts, with associate Lauren Bewley.