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Lightspeed Announces Pricing of Secondary Offering of Subordinate Voting Shares
Lightspeed Announces Pricing of Secondary Offering of Subordinate Voting Shares Ca...
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"\n\n\n\nLightspeed Announces Pricing of Secondary Offering of Subordinate Voting Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Aug. 15, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, Aug. 15, 2019 /CNW Telbec/ - Lightspeed POS Inc. (\"Lightspeed\" or the \"Company\") (TSX: LSPD) today announced that it has entered into an underwriting agreement with certain selling shareholders and a syndicate of Underwriters (as defined below) in connection with its previously announced marketed offering of subordinate voting shares (the \"Offering\"). \n\n \n \n\n \nThe Underwriters have agreed to purchase, at a price of $35.00 per share, an aggregate of 5,399,602 subordinate voting shares from (a) DHIDasilva Holdings Inc., an entity controlled by Dax Dasilva, Lightspeed's founder and Chief Executive Officer, (b) Caisse de dépôt et placement du Québec, (c) Inovia Capital (through entities controlled by them) and (d) certain members of Lightspeed's management (collectively, the \"Selling Shareholders\"). The Selling Shareholders have also granted 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 an additional 809,940 subordinate voting shares from the Selling Shareholders. Lightspeed will not receive any of the proceeds of the Offering. The Selling Shareholders have agreed to a customary lock-up period of 90 days following closing of the Offering, during which time they will be restricted from disposing of any further securities of Lightspeed without the prior consent of the Joint Bookrunners (as defined below). All of the existing lock-up arrangements entered into at the time of the Company's initial public offering will continue to remain in full force and effect in accordance with the terms set forth therein.\nThe Company also announced that, due to current market conditions, it has decided not to proceed...