Overview
- Lime (Neutron Holdings) has filed an S‑1 to list on Nasdaq and plans to sell about 7 million shares to raise roughly $181.9 million at a $24–$26 price range.
- The company reported steady revenue growth from 2023 to 2025 but remained unprofitable each year, with net losses continuing into 2025.
- Lime disclosed approximately $845.8 million of liabilities due within 12 months and warned the IPO proceeds would not fully cover those obligations.
- Uber, a long‑time partner and investor, has signaled nonbinding interest to buy up to $20 million of IPO shares and remains a major revenue channel for Lime.
- The micromobility sector faces high operating costs, permit and legal risks—including about $56.3 million in unsettled injury claims for Lime—and the company may still need a revolving credit facility, refinancing or restructuring even if the IPO closes.