Lemonade enters up to $150M customer investment agreement for sales and marketing

Lemonade, Inc.

Investors provide up to $150M over 18 months; Lemonade pays share of Reference Income.
Investors fund up to 80% of Growth Spend for each Reference Cohort.
Company pays Investor Sharing Percentage until investors achieve 16% IRR, then retains all future income.
Agreement created direct financial obligation; blog post with long-term projections published.
Standard representations, warranties, and termination provisions apply.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lemonade, Inc. entered into Customer Investment Agreement with GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors valued at up to $150 million (effective 2023-06-28).

Action: entry
Counterparty: GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors
Value: up to $150 million
Effective: 2023-06-28

Exact text from the filing

On June 28, 2023 (the “Closing Date”), Lemonade, Inc. (the “Company”) entered into a Customer Investment Agreement (the “Agreement”), with GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors (the “Investors”).

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Lemonade, Inc. filing history →

Source: SEC EDGAR

accession 0001691421-23-000084

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