Lemonade raised $319 million in its initial community presenting on Wednesday.
The on-line coverage firm marketed 11 million shares priced at $29 each. Underwriters for the IPO will have an solution to invest in an further one.sixty five million shares in a thirty-working day window.
Goldman Sachs Group, Morgan Stanley, and Allen & Corporation are the running bookrunners for the presenting.
Lemonade priced the shares higher than its indicated assortment of $26 to $28.
The IPO values the New York-centered firm at $one.six billion, significantly reduce than the $2.one billion pre-dollars valuation it obtained as part of a $300 million