Lemonade Eyes Sale of 3 Million Shares in Secondary Offering

Digital insurer Lemonade has announced plans to sell 3 million shares of common stock to raise money for “general corporate purposes.”

The New York-based insurtech could raise as much as $808 million, according to its regulatory filing announcing the stock sale. Lemonade said its stock price as of Jan. 8 was $160.74 per share, though it traded above $179 per share late afternoon on Jan. 13.

Additionally, selling stockholders will be offering more than 1.5 million shares of common stock.

In addition to the offering, some Lemonade stockholders will be selling more than 1.5 million shares of stock. Lemonade also plans to grant the underwriters 30-day options to snatch up an additional 678,647 shares of its common stock.

Lemonade launched the first major insurtech IPO in July 2020, raising more than $300 million.