The IPO was formally announced on Friday, March 1. TheStreet's Tony Owusu reported that the ride hailing service, Lyft, officially filed an S-1 registration statement with the Securities and Exchange Commission for an initial public offering.

The company was valued at $15.1 billion after its latest funding round.

JPMorgan Chase, Credit Suisse and Jefferies will act as the primary underwriters for the company's debut on the Nasdaq. The stock will be listed under the symbol "LYFT."

Jim Cramer said that he believes that investors should get in when the company officially goes public. 

"You want to get as much Lyft as you can," Cramer told viewers on TheStreet's Live Show Monday morning.

"This one's going to be good. You know, the first three or four deals are going to be great...The brokers are going to try to get it so that you're drawn in to all the deals because the deals by the end of this gain will be bad," Cramer said. "So get in there, try to get as much Lyft as possible, because the way deals work is that the brokers all know they have a ton of merchandise to move. So, what they do is they would whet your appetite with some really tasty morsels and Lyft will be a tasty morsel."

Related. Jim Cramer: Here Comes the Lyft IPO

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