San Francisco area-based Life360 LIF 6.41%↑ last week announced the pricing of its initial public offering in the U.S. of 5,750,000 shares of common stock. The company owns Tile, which offers tracking devices with a mobile app to track people, pets and valuables.
The company, which could raise as much as $155 million through its announced $27 per share IPO price, intends to use the net proceeds for capitalization and financial flexibility. In addition, it would use the funds for general corporate purposes, including working capital, operating expenses and capital expenditures, the company said.
Life360, also publicly traded on the Australian Securities Exchange, is listed on Nasdaq with the “LIF” ticker.
The company was the target of an extortion attempt from an unknown entity after customer data was stolen from its Tile customer support platform. The stolen data includes names, addresses, phone numbers and Tile device identification numbers, said Life360, which said no credit card numbers, passwords or log-in credentials were compromised.
“We have taken and will continue to take steps designed to further protect our systems from bad actors, and we have reported this event and the extortion attempt to law enforcement. We remain committed to keeping families safe online and in the real world” said Chris Hull, Life360’s CEO, in a statement.
