Lemonade, Inc. (“Lemonade”) (NYSE: LMND), the insurance company powered by artificial intelligence and behavioral economics, announced today that it plans to offer 3,000,000 common shares for sale in a subscribed public offering (the “Principal Offering”) . Certain selling shareholders of Lemonade also intend to offer 1,524,314 Lemonade common shares for sale in the offer (the “Secondary Offer” and, together with the Primary Offer, the “Offer”). Lemonade also plans to give underwriters 30-day options to purchase up to 678,647 Lemonade common shares.
Lemonade intends to use its net proceeds from the Primary Offering for general corporate purposes. Lemonade will not receive any proceeds from the sale of shares by the selling shareholders in the Secondary Offering.
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Allen & Company LLC and Barclays Capital Inc. are acting as active book brokers together.
A registration statement relating to the Offer has been filed with the Securities and Exchange Commission (the “SEC”), but has not yet become effective (the “Registration Statement”). The Offer will only be made through a prospectus. These securities cannot be sold or offers to buy can be accepted before the Registration Statement takes effect. Copies of the preliminary prospectus related to the Offer may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York NY 10282 (Tel: 1-866-471-2526, or email Prospectus-ny @ ny.email.gs.com), by Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by Allen & Company LLC, Attn: Prospectus Department, 711 Fifth Avenue , New York, NY 10022 (Tel: 212-339-2220 or email to: [email protected]), or Barclays Capital Inc., with Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 1-888-603-5847 or email to: [email protected]).
This press release must not constitute an offer to sell or the solicitation of an offer to buy these securities, nor should there be any sale of those securities in any state or jurisdiction where such offer, solicitation or sale is illegal prior to registration or qualification under the terms. securities laws of any state or jurisdiction.
Forward Looking Statements:
This press release contains forward-looking statements in accordance with the Private Securities Litigation Reform Act 1995. All statements contained in this press release that are not related to historical facts are to be considered forward-looking statements, including statements identified by terms such as “can”, “will”, “should”, “wait”, “plan”, “anticipate”, “could”, “intend”, “visa”, “design”, “contemplate”, “believe,” “estimate “,” predict “,” potential “or” continue “or the negative of these terms or other similar expressions. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements , including, but not limited to, the following: our future operating results and financial position; our ability to attract, retain and expand our customer base; our ability to operate and maintain our business model; our ability to maintain and improve our brand and reputation; our ability to effectively manage the growth of our business; the effects of seasonal trends on our results of operations; our ability to obtain greater value from each customer; our ability to compete effectively in our industry; future performance of the markets in which we operate; our ability to maintain reinsurance contracts; our ability to use our proprietary artificial intelligence algorithms; our ability to accurately take risks and charge profitable fees; our ability to protect our intellectual property; our domestic and international expansion strategy and domestic and international expansion capacity; our ability to expand our product offerings or improve existing ones; our ability to attract and retain staff; potential damage caused by the misappropriation of our data and compromised cybersecurity; potential damage caused by changes in Internet search engine methodologies; our ability to raise additional capital; our lack of operational history and the ability to obtain profitability; fluctuations in our operating results and operating metrics; our ability to receive, process, store, use and share data and comply with laws and regulations related to data privacy and security; our ability to comply with laws and regulations that currently apply, or become applicable, to our business in the United States and internationally; our inability to predict the lasting impacts of COVID-19 on our business in particular and the global economy in general; and our expected uses of the primary offering’s net proceeds. These and other important factors discussed under the heading “Risk factors” in Lemonade’s filings with the SEC, including the Registration Statement, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statements represent management’s beliefs as of the date of this press release. Although we may choose to update these forward-looking statements at some point in the future, we are exempt from any obligation to do so, even if subsequent events change our outlook.
About lemonade:
Lemonade (NYSE: LMND) offers tenants, owners and pet health insurance in the United States, content and liability insurance in Germany and the Netherlands, and insurance for tenants in France, through its full stack insurers. Driven by artificial intelligence and behavioral economics, Lemonade decided to replace brokers and bureaucracy with bots and machine learning, aiming at zero bureaucracy and everything instant. A Certified B-Corp, Lemonade gives unused awards to nonprofit organizations selected by their community during their annual Giveback. Lemonade is currently available to most of the United States, Germany, the Netherlands and France and continues to expand globally.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20210111006044/en/
Contacts
Lisa Horton
[email protected]