Lyft to Price IPO Shares at $62-$68, Raise $2.2 Billion, Says SEC Filing

Lyft expects to price shares between $62 and $68 when they begin trading on the Nasdaq, it said in an amended SEC registration statement Monday. It plans to raise up to $2.2 billion in net proceeds from the 3.77-million-share initial public offering, $404.8 million of which it will use to pay off restricted-stock-unit “obligations,” said the filing. Rakuten CEO Hiroshi Mikitani is Lyft’s largest individual shareholder with 13.5 percent, it said. General Motors, which invested $500 million in Lyft three years ago (see 1602030048), owns 7.76 percent, it said.