Business
Lightspeed Announces Launch of Public Offering of Subordinate Voting Shares
Lightspeed Announces Launch of Public Offering of Subordinate Voting Shares Can...
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"\n \n \n \n Lightspeed Announces Launch of Public Offering of Subordinate Voting Shares\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}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTREAL\n \n ,\n \n Aug. 9, 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 the launch of a public offering of Lightspeed's subordinate voting shares in\n \n the United States\n \n and\n \n Canada\n \n .\n \n \n \n \n \n \n \n \n \n A total of 7,000,000 subordinate voting shares will be offered by Lightspeed for sale under the offering, which will be conducted through Morgan Stanley and Barclays, as underwriters (the \"Underwriters\").\n \n \n Lightspeed will also grant the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 1,050,000 additional subordinate voting shares, representing in the aggregate 15% of the total number of subordinate voting shares to be sold pursuant to the offering.\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. Closing of the offering will be subject to a number of customary conditions, including the listing of the subordinate voting shares issued by Lightspeed as part of the offering on the NYSE and the TSX, and any required approvals of the NYSE and the TSX.\n \n \n In connection with the offering, Lightspeed will file a preliminary prospectus supplement to its short form base shelf prospectus dated\n \n May 27, 2021\n \n (the \"base shelf prospectus\") with the securities regulatory authorities in each of the provinces and territories of\n \n Canada\n \n , and with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10 under the U.S.-\n \n Canada\n \n multijurisdictional disclosure system...