Neutron Holdings prepares for IPO as Lime eyes electric bike growth

Lime, the electric scooter and e-bike rental company formally known as Neutron Holdings, is heading for the public markets with a Nasdaq listing under the ticker LIME. The company filed its S-1 registration with the SEC on May 8 and kicked off its roadshow on June 22, with pricing expected during the week of June 29.

The offering includes 6.96 million shares priced between $24 and $26 each, targeting approximately $174 million in proceeds. That would put Lime’s post-IPO valuation somewhere between $1.66 billion and $1.8 billion.

Uber’s bet and the revenue question

Uber plans to purchase up to $20 million in shares, accounting for roughly 11.5% of the total offering. Uber also accounted for about 14% of Lime’s revenue in 2025, meaning the ride-hailing company is simultaneously Lime’s biggest distribution partner and now one of its most visible public market backers.

Lime operates as the largest global provider of shared micromobility services, offering short-term rentals of electric scooters and e-bikes across hundreds of cities.

The balance sheet tells a different story

Lime reported a net loss of $59.3 million in 2025. As of March 31, 2026, Lime held roughly $261 million in cash against current liabilities of approximately $1 billion.

The $174 million IPO raise, if fully subscribed at the top of the range, would bring total cash closer to $435 million. That still leaves a significant gap against those looming liabilities.

What this means for investors

The $1.66 billion to $1.8 billion valuation range positions Lime as a mid-cap transportation play. Investors watching this IPO should pay close attention to the final pricing and first-day trading dynamics. Strong demand above the $26 top of range would suggest institutional appetite for micromobility exposure at scale. Pricing at or below the $24 floor would indicate that even with Uber’s endorsement, the market wants a discount for the financial risk.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.