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Lightspeed Announces Upsizing and Pricing of Marketed Public Offering of Subordinate Voting Shares
Lightspeed Announces Upsizing and Pricing of Marketed Public Offering of Subordinate Voti...
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"\n \n \n \n Lightspeed Announces Upsizing and Pricing of Marketed 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 Feb. 9, 2021\n \n /CNW Telbec/ - Lightspeed POS Inc. (\"Lightspeed\" or the \"Company\") (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce platforms, today announced the pricing of its previously announced marketed public offering of subordinate voting shares in\n \n the United States\n \n and\n \n Canada\n \n and that the size of the offering has been increased to 8,400,000 subordinate voting shares. Lightspeed will issue the subordinate voting shares at a price of\n \n US$70\n \n per share for aggregate gross proceeds to the Company of\n \n US$588,000,000\n \n .\n \n \n \n \n \n \n \n \n \n The offering is being conducted through a syndicate of underwriters led by Morgan Stanley, Barclays and BMO Capital Markets, as joint lead book-running managers, with Credit Suisse and RBC Capital Markets as joint-bookrunners, and CIBC Capital Markets, KeyBanc Capital Markets, National Bank Financial Inc.,\n \n Raymond James\n \n and TD Securities as co-managers. The offering is expected to close on or about February 12, 2021, subject to customary closing conditions.\n \n \n Lightspeed and certain members of the Company's management including\n \n Dax Dasilva\n \n have 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 1,260,000 additional subordinate voting shares, representing in the aggregate 15% of the total number of subordinate voting shares to be sold pursuant to the offering. Lightspeed will not receive any of the proceeds of the sale of subordinate voting shares by the selling shareholders.\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 In connection with the...