Lime priced at $25 midpoint, raising $174M at $1.6B valuation, with $141.6M net proceeds to repay debt as the San Francisco scooter giant goes public after nearly a decade.

San Francisco's Lime, the bright-green scooter fleet that's become a fixture on city streets, priced its IPO at $25 per share Wednesday, raising $174 million at a $1.6 billion valuation. The company, officially known as Neutron Holdings, sold 6.96 million shares, with 6.68 million from Lime itself and the remainder from existing shareholders, according to IPO prospectus data. Net proceeds to the company totaled approximately $141.6 million after underwriting fees.

The offering marks a milestone for the Uber-backed micromobility pioneer that helped launch the dockless scooter craze in 2018. Lime reported $886.7 million in revenue for 2025, up 29% year-over-year, but recorded a net loss of $59.3 million, its SEC filing shows. The company plans to use proceeds primarily to repay $115 million in outstanding debt under its Senior Secured Term Loan.

Uber remains Lime's largest shareholder, holding about 14 million shares (24% of common stock), with their partnership accounting for roughly 14% of Lime's 2025 revenue. Despite the public debut, Lime's path remains operationally intensive: the company maintains a fleet redistribution and maintenance workforce alongside its 1,148 full-time employees globally, including more than 100 in the Bay Area.

The company is expanding its San Francisco footprint, moving into a 29,000-square-foot space at 444 Townsend St. in SoMa, complete with a hardware lab. Lime currently operates 3,250 scooters in the city under its SFMTA permit, which was recently extended for another year. The dockless model that once sparked regulatory battles has since been integrated into the city's mobility ecosystem, though not without friction—Lime racked up approximately $445,000 in parking violation fines so far this year, far exceeding competitors.

The IPO priced at the midpoint of Lime's $24-$26 range, suggesting measured investor appetite for a company that's grown revenue but yet to turn profitable. With Bird's 2023 bankruptcy and exit from San Francisco, Lime now competes primarily with Spin and Lyft's Bay Wheels in the city's micromobility market.