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Lemonade (LMND) Prices 3.3M Share Upsized Common Offering and 1.524M Share Secondary Offering at $165/Sh

January 14, 2021 6:08 AM EST

Lemonade, Inc. (NYSE: LMND), the insurance company powered by artificial intelligence and behavioral economics, today announced the pricing of the underwritten public offering of 3,300,000 shares of its common stock by Lemonade (the “Primary Offering”) and 1,524,314 shares of its common stock by certain selling stockholders (the “Secondary Offering” and together with the Primary Offering, the “Offering”), at a price to the public of $165.00 per share. The Offering was upsized from the previously announced offering size of 4,524,314 shares. The underwriters will also have 30-day options to purchase up to an additional 723,647 shares of Lemonade’s common stock from Lemonade. The Offering is expected to close on January 19, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Allen & Company LLC and Barclays Capital Inc. are serving as the joint active bookrunners for the Offering. JMP Securities LLC, Oppenheimer & Co. Inc., Piper Sandler & Co. and William Blair & Company, L.L.C. are acting as co-managers for the Offering.

A registration statement relating to the Offering was declared effective by the Securities and Exchange Commission on January 13, 2021 (the “Registration Statement”). The Offering is being made only by means of a prospectus.



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