Lime, a micromobility firm, has secured $167 million through its IPO.

The scooter and bike company, operational for nine years and supported by Uber, issued 6.68 million shares priced at $25 each, aligning with the midpoint of its $24 to $26 price spectrum. Trading on the Nasdaq under the ticker “LIME” commenced Wednesday afternoon, witnessing a surge of about 9% within the initial hour.

Lime has contemplated an IPO for many years. In 2021, after a funding round of $523 million, CEO Wayne Ting informed TechCrunch of the company’s plans for an IPO in 2022. He reiterated this notion in 2023, mentioning that Lime was still awaiting favorable market conditions.

The anticipated IPO values Lime at approximately $1.66 billion, narrowly missing the valuation obtained by fellow micromobility player Bird in its merger with a special purpose acquisition company in 2021.

Lime is in need of capital. In its IPO submission in May, the firm stated a “substantial doubt” about its ability to remain a going concern. Lime indicated that it requires the IPO funds to settle around $1 billion in liabilities, with over half of that amount due by the close of this year. Without the IPO, Lime informed potential investors it would have to seek alternative financing avenues.

Lime finds itself on precarious financial ground as the micromobility sector has been quite unforgiving over recent years, even during prosperous times. Bird sought bankruptcy protection and restructured post-IPO, while other rivals have either merged (Tier and Dott), been delisted from prominent exchanges (Micromobility.com), or ceased operations entirely (Superpedestrian).

Despite the turmoil, Lime has succeeded in increasing its revenue over the past years. It reported $521 million in 2023, $686.6 million in 2024, and $886.7 million the previous year. The company also reduced its losses from $122.3 million in 2023 to just $33.9 million in 2024, although that number climbed back to $59.3 million in 2025.

This growth has largely stemmed from Lime’s capacity to expand internationally. The company now functions in 230 cities across 29 nations. However, it remains somewhat reliant on Uber, which possesses 24% of Lime and contributed over 14% of its revenue last year. (Uber facilitates Lime ride bookings through its app in certain cities.)

This article has been refreshed with details regarding Lime’s stock trading commencement.