Lime Raises $523 Million in Debt, Plans to Go Public Next Year

Electric scooter and bike startup Lime has raised $523 million of convertible debt and term loan financing as it prepares to go public next year, the company plans to announce Friday.

Investors including Abu Dhabi’s growth fund, Fidelity Management & Research Company, Uber Technologies Inc. and funds managed by Highbridge Capital Management committed $418 million in convertible debt funding. UBS O’Connor provided a $105 million senior secured term loan facility.

The San Francisco-based startup, whose official company name is Neutron Holdings Inc., plans to use the majority of the investment to expand its fleet of its latest model Gen4 ...