Location-based services provider Life360 has set the price for its U.S. public offering at $27 per share, aiming to raise $155.25 million. This marks the company's second listing, following its initial listing in Australia.
Based in San Francisco, California, Life360 is offering 5.75 million shares. The offering is scheduled to close on Friday, with trading expected to begin on the Nasdaq Global Select Market on Thursday.
The owner of Tile Tracker said that the purpose of this offering is to bolster its capitalization and enhance financial flexibility. Moreover, Life360 seeks to establish a public market for its stock in the U.S.
Proceeds from the offering will be allocated to working capital, operating expenses, and capital expenditures.
"We cannot specify with certainty all of the particular uses for the net proceeds to us from this offering," it said in a filing with the U.S. Securities and Exchange Commission (SEC) on Monday.