Location services provider Life360 has priced its US public offering at $27 per share, seeking to raise $155.25 million. It is the company’s second listing after its initial listing in Australia.
Life360, based in San Francisco, California, is offering 5.75 million shares. The offering is scheduled to close Friday and begin trading on the Nasdaq Global Select Market on Thursday.
The owner of Tile Tracker said that the purpose of this offer is to increase its capitalization and increase financial flexibility. Moreover, Life360 aims to create a public market for its shares in the United States.
Proceeds from the offering will be allocated to working capital, operating expenses and capital expenditures.
“We cannot identify with certainty all of the specific uses of the net proceeds we receive from this offering,” it said in a statement filed with the U.S. Securities and Exchange Commission (SEC) on Monday.