Business
Lightspeed Announces Full Exercise of Over-Allotment Option in Connection With Previously Announced Public Offering
Lightspeed Announces Full Exercise of Over-Allotment Option in Connection With Previously...
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"\n \n \n \n Lightspeed Announces Full Exercise of Over-Allotment Option in Connection With Previously Announced Public Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTREAL\n \n ,\n \n Aug. 13, 2021\n \n /CNW Telbec/ - Lightspeed Commerce Inc. (\"Lightspeed\" or the \"Company\") (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences, today announced that in connection with its previously announced public offering of 7,700,000 subordinate voting shares completed on\n \n August 11, 2021\n \n , the underwriters exercised their over-allotment option in full to purchase an additional 1,155,000 subordinate voting shares at a price to the public of\n \n US$93.00\n \n per share. The sale of these additional shares was completed today for aggregate gross proceeds to the Company of approximately\n \n US$107.4 million\n \n , which brings the aggregate gross proceeds to the Company from the offering to approximately\n \n US$823.5 million\n \n before underwriting commission and offering costs.\n \n \n \n \n \n \n \n \n \n The Company currently expects that the net proceeds of the offering will be used primarily to strengthen the Company's financial position and allow it to pursue its growth strategies.\n \n \n The offering was conducted through a syndicate of underwriters led by Morgan Stanley and Barclays, as joint lead book-running managers, and BMO Capital Markets and RBC Capital Markets, as book-running managers.\n \n \n \n No securities regulatory authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor sha...