Lime files for Nasdaq IPO, targeting around $2 billion valuation

Electric bike and scooter rental company Lime has formally filed for a US initial public offering, submitting an S-1 under the name Neutron Holdings with plans to list on the Nasdaq under the ticker symbol LIME. The Uber-backed micromobility operator reported 2025 revenue of about $886.7 million with a net loss of roughly $59 million, up from about $686–687 million in revenue and a smaller net loss in 2024. The company’s S-1 shows it has generated positive free cash flow for three consecutive years, but also discloses sizable near-term debt obligations that it plans to address with IPO proceeds. The filing does not yet specify a price range, number of shares, or expected IPO proceeds, meaning there is currently no confirmed IPO price or fully baked valuation from the offering terms.

Lime is targeting a valuation of around $2 billion for its public debut, according to multiple reports citing people familiar with the deal, which would put it roughly back in line with its pre-pandemic private valuation of $2.4 billion and well above the roughly $510 million valuation from a 2020 down round led by Uber. Goldman Sachs and JPMorgan are listed as the lead underwriters on the transaction, with Jefferies and, in some reports, Morgan Stanley among the additional bookrunners. The deal is being closely watched as a test of investor appetite for shared micromobility businesses after the struggles of rival Bird, and as a potential signal for the broader IPO market. Until Lime amends its S-1 with pricing details, key terms such as IPO price per share, deal size, and implied IPO valuation remain unannounced, so only the targeted valuation and underwriter lineup are currently known.