Lyft Plans $2 Billion IPO for March 29th (LYFT)

Lyft (LYFT) plans to raise $2 billion in an initial public offering (IPO) on Friday, March 29th, IPO Scoop reports. The company plans to issue 30,800,000 shares at a price of $62.00-$68.00 per share.

In the last 12 months, Lyft generated $2.2 billion in revenue and had a net loss of $911.3 million. Lyft has a market cap of $184.7 billion.

J.P. Morgan, Credit Suisse, Jefferies, UBS Securities, Stifel, Nicolaus, RBC Capital Markets and KeyBanc Capital Markets acted as the underwriters for the IPO and Cowen, Raymond James, Canaccord Genuity, Evercore ISI, Piper Jaffray, JMP Securities, Wells Fargo Securities, KKR, Academy Securities, Blaylock Van, Penserra, Siebert Cisneros, The Williams Capital Group, CastleOak Securities, C.L. King & Associates, Drexel Hamilton, Great Pacific Securities, Loop Capital Markets, Mischler Financial Group, Samuel A. Ramirez, R. Seelaus and Tigress Financial Partners were co-managers.

Lyft provided the following description of their company for its IPO: “Lyft started a movement to revolutionize transportation. In 2012, we launched our peer-to-peer marketplace for on-demand ridesharing and have continued to pioneer innovations aligned with our mission. Today, Lyft is one of the largest and fastest-growing multimodal transportation networks in the United States and Canada. To date, we have facilitated over one billion rides. “.

Lyft was founded in 2007 and has 4791 employees. The company is located at 185 Berry Street, Suite 5000, San Francisco, CA 94107 and can be reached via phone at (844) 250-2773 or on the web at http://www.lyft.com.

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