ADT, BMW and Duchossois Group have achieved exits after people-tracking app developer Life360 became one of the few US-based companies to float in Australia.
Life360, the US-based family-tracking technology provider backed by corporates ADT, BMW and Duchossois Group, has raised more than A$145m ($105m) in its initial public offering.
Life360 issued 23.5 million chess depositary interests (CDIs) – with three CDIs representing one share – on the Australian Securities Exchange, priced at $3.46 each to raise $81.5m. Certain existing shareholders sold another 6.8 million CDIs to bring the total proceeds from the offering to $105m.
Founded in 2008, Life360 has developed web and mobile…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
