LIME RAISES $174M IN US IPO AT MIDPOINT

Lime, the Uber-backed bike and scooter rental service, completed its IPO with pricing that matched the middle of its target range. The offering included shares from both the company and existing investors looking to liquidate positions. The micromobility sector has seen significant investor interest despite operational challenges in various cities. Lime operates in multiple countries and has faced regulatory hurdles alongside competitors like Bird and Voi. The company's path to going public comes after years of venture funding and expansion efforts. The IPO pricing reflects broader market conditions for mobility startups, which have faced scrutiny over profitability and unit economics. Uber's involvement as a major backer underscores the ride-sharing giant's diversified mobility strategy beyond traditional ride-hailing services.