UPDATE 1-Lime plans to name Uber as anchor investor in IPO, The Information reports
Uber Technologies,Inc. UBER | 0.00 |
Adds details and background
June 21 (Reuters) - Lime, which operates an electric bike and scooter network, plans to name ride-hailing firm Uber UBER.N as an anchor investor in its U.S. initial public offering, The Information reported on Sunday, citing a source.
Uber is expected to invest a "meaningful" amount in the deal and be named as an anchor investor on the cover of an updated IPO prospectus that Lime plans to file on Monday, the report said.
Reuters could not immediately verify the report. Uber and Lime did not immediately respond to Reuters' requests for comment.
San Francisco-based startup Lime is backed by Uber Technologies. It filed to go public in the United States in May.
Lime intends to use the IPO proceeds to fund operations, repay all its debt, and invest or acquire complementary technologies, assets or intellectual property.
Uber has guaranteed a $115 million Lime loan due in September, according to the report.
Separately, Lime plans to start talks with IPO investors on a road show this week to raise about $200 million at about $1.8 billion valuation, the report said.
The startup reported a jump in annual revenue in its filing for the U.S. initial public offering in May.
