Life360 Announces 5.75M Share IPO at $27/sh

San Francisco area-based Life360 (LIF) today announced the pricing of its initial public offering in the U.S. of 5,750,000 shares of its common stock, with 3,703,704 shares of common stock being offered by Life360 and 2,046,296 shares of common stock being offered by the selling securityholders named in the prospectus, at an initial public offering price of $27.00 per share. Life360 will not receive any of the proceeds from the sale of the shares by the Selling Securityholders. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "LIF", today, Thursday June 6, 2024. In addition, the Selling Securityholders have granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on June 7, 2024, subject to customary closing conditions.

The Company intends to use the net proceeds it receives from the proposed offering to increase its capitalization and financial flexibility, to create a public market for its common stock in the United States and for general corporate purposes, including working capital, operating expenses and capital expenditures.

The Company, with headquarters in the San Francisco area and pre-existing SEC reporting obligations, views the Offering and increased exposure to U.S. investors as a natural next-step in its growth. The Company's CHESS Depositary Interests ("CDIs") (representing underlying shares of common stock on a 3 CDIs-for-1 share of common stock basis) will remain listed on the Australian Securities Exchange.

Goldman Sachs & Co (NYSE:GS). LLC, Evercore ISI and UBS Investment Bank are acting as joint book-running managers for the Offering. Stifel is acting as an additional book-running manager for the Offering. Canaccord Genuity, Citizens JMP and Loop Capital Markets are acting as co-managers for the Offering.

A registration statement on Form S-3 (Registration No. 333-279271) (including a base prospectus) has been filed with the SEC and became automatically effective on May 9, 2024. A preliminary prospectus supplement and accompanying prospectus relating to the Offering has been filed with the SEC and is available on the SEC's website located at https://www.sec.gov. A final prospectus supplement reflecting the final terms of the Offering will be filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or email: ecm.prospectus@evercore.com; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or email: ol-prospectus-request@ubs.com.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.