Neutron Holdings Inc, the San Francisco-based operator of Lime electric scooters and bikes, raised US$174 million in its IPO.

The shares were priced at US$25, opened at US$27 and closed at US$26 on the Nasdaq Global Select Market, valuing Lime at about US$1.66 billion.

Lime sold 6.68 million shares, while CEO Wayne Ting, President Joseph Kraus, co-founder Brad Bao, and other shareholders sold 276,731 shares.

Uber’s stake was expected to fall to 22% from 24% after the offering, and 14.5% of Lime’s 2025 revenue came through its Uber partnership.

The listing follows revenue that rose 29.1% to US$886.7 million in 2025, while Lime’s net loss widened to US$59.3 million from US$33.9 million a year earlier.

Lime also recorded positive free cash flow for a third straight full year.

Lime said it would use IPO proceeds to fund operations, repay all debt, and pursue acquisitions, after disclosures showed large loan maturities due within 12 months.

Uber has offered Lime rentals in its app since 2018, making it a distribution partner and shareholder.

Investor demand was about 6x the shares available, even as the electric scooter rental sector still faces regulatory risks and the legacy of earlier failures such as Bird.

🔗 Source: Bloomberg