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CORRECTED-SoftBank-backed Lemonade raises $319 mln in IPO -source

Reuters
Updated ·1-min read

(Corrects amount raised in first paragraph to $319 million, not $329 million)

July 1 (Reuters) - SoftBank Group Corp -backed insurance startup Lemonade Inc raised $319 million in its U.S. initial public offering (IPO), a person familiar with the matter said on Wednesday.

Lemonade priced 11 million shares at $29 per share, the source said. This was above its indicated price range, which it had raised to between $26 and $28 per share earlier on Wednesday. It had previously guided for the offering to be priced between $23 and $26 per share.

The source requested not to be identified ahead of an official announcement. Lemonade did not immediately respond to a request for comment.

(Reporting by Echo Wang in New York Editing by Chris Reese)