The IPO Buzz:  Life360 Prices U.S. IPO – NASDAQ Uplisting –  at $27.00

Life360 (LIF), which provides a mobile app and Tile trackers to help families and pets stay connected, priced its U.S. initial public offering of 5.75 million shares  at $27.00 to raise $155.25 million, the San Francisco-based company announced early today – Thursday, June 6, 2024. The $27.00 offering price was below the marketed price – an as-converted price – of $30.43. The stock is expected to start trading today on the NASDAQ. (Note: IPOScoop classifies this offering as a NASDAQ uplisting because Life360’s stock is represented by CHESS Depositary Interests – also known as “CDIs” – that will remain listed on the Australian Securities Exchange.) Goldman Sachs, Evercore ISI and UBS Investment Bank were the joint book-running managers, with Stifel as an additional book-running manager for the IPO. Canaccord Genuity, Citizens JMP and Loop Capital Markets acted as co-managers for the offering. Life360, a family connection and safety company, keeps people close to the ones they love, the company says. “The category-leading mobile app and Tile tracking devices empower members to stay connected to the people, pets, and things they care about most, with a range of services, including location sharing, safe driver reports, and crash detection with emergency dispatch,” Life360 said in a press release announcing the pricing of its NASDAQ offering. “As a remote-first company based in the San Francisco Bay Area, Life360 serves approximately 66 million monthly active users (MAU), as of March 31, 2024, across more than 150 countries. Life360 delivers peace of mind and enhances everyday family life in all the moments that matter, big and small. For more information, please visit life360.com “