Lemonade completes Metromile acquisition for ~$145M in stock; receives $155M cash and $110M premiums

Lemonade, Inc.

Deal closed July 28, 2022; Metromile shareholders received 7.3 million LMND shares.
Lemonade gains over $155M cash, over $110M in auto premiums, and insurance licenses in 49 states.
Metromile CEO Dan Preston becomes SVP of Strategic Initiatives; most Metromile employees transition.
Metromile brand to sunset after customer migration; MILE stock ceases trading on Nasdaq.

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