SoftBank-backed Lemonade raises $319 million in its IPO, source says

SoftBank-backed insurance startup Lemonade raised $329 million in its U.S. initial public offering, a person familiar with the matter said on Wednesday.

Lemonade priced 11 million shares at $29 per share, the source said. This was above its indicated price range, which it had raised to between $26 and $28 per share earlier on Wednesday. It had previously guided for the offering to be priced between $23 and $26 per share.

The source requested not to be identified ahead of an official announcement. Lemonade did not immediately respond to a request for comment.