Lemonade shares up 6% as Metromile deal closure gets pushed to Q3
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Lemonade shares up 6% as Metromile deal closure gets pushed to Q3

Jairo Ibarra
June 15, 2022
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Lemonade shares rose around 6.3% to $17.70 on Wednesday following yesterday’s announcement that the merger with auto InsurTech Metromile will now close in Q3 2022, as opposed to prior estimates of a Q2 closure.

Last November, Lemonade struck a deal to buy the Californian InsurTech in an all-stock transaction, implying a diluted equity value of $500mn, or $200mn net of cash.

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Jairo Ibarra
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