Key keywords: Lime IPO, Initial Public Offering, shared micromobility, electric scooter rental, Nasdaq listing, sustainable urban transportation, last-mile transit solution, micromobility market growth, zero-emission mobility Oct 17, 2024 -- Leading global shared micromobility provider Lime officially announced the launch of its initial public offering (IPO) on Thursday, filing a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to list its common stock on the Nasdaq Global Select Market under the ticker symbol "LM". The company is targeting a raise of approximately $500 million in the offering, with underwriters led by JPMorgan Chase, Goldman Sachs, and Morgan Stanley. Founded in 2017, Lime operates a fleet of over 300,000 electric scooters, e-bikes, and low-speed electric mopeds across more than 250 cities in 35 countries, serving over 40 million annual active users as of the end of 2023. The company reported $723 million in revenue for full-year 2023, representing a 48% year-over-year increase, and became the first pure-play shared micromobility operator to post full-year adjusted EBITDA profitability, hitting $42 million in positive adjusted EBITDA last year after years of industry-wide losses. Lime stated in its filing that the net proceeds from the IPO will be allocated to three core priorities: expanding its footprint in high-growth markets including Southeast Asia, Southern Europe, and Latin America, investing in research and development of next-generation zero-emission vehicles with longer battery life and enhanced safety features, and strengthening its partnerships with municipal governments to align operations with local urban planning and carbon reduction goals. The IPO comes at a pivotal moment for the global micromobility industry, which is projected to reach a market size of $180 billion by 2030 according to Grand View Research, as cities around the world prioritize low-carbon transport to reduce traffic congestion and cut emissions. Unlike former rival Bird Global, which filed for bankruptcy in 2023 after years of unsustainable spending and misaligned pricing strategies, Lime has focused on unit economics optimization, vehicle durability improvements, and collaborative regulatory engagement to build a profitable, scalable business model. The company also noted potential risk factors in its filing, including changing municipal regulations for shared mobility devices, supply chain volatility for lithium-ion batteries, and increased competition from local operators and ride-hailing platforms expanding into micromobility services. Lime is expected to announce its IPO price range and start trading in the first week of November 2024, pending SEC approval.