Business
Lightspeed Announces Upsizing and Pricing of Public Offering of Subordinate Voting Shares
Lightspeed Announces Upsizing and Pricing of Public Offering of Subordinate Voting Shares...
About this update from Lightspeed Commerce Inc
[{"type":"text","content":"\n \n \n \n Lightspeed Announces Upsizing and Pricing 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}\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. 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 that the size of its previously announced public offering of subordinate voting shares in\n \n the United States\n \n and\n \n Canada\n \n has been increased to 7,700,000 subordinate voting shares at a price to the public of\n \n US$93\n \n per share for aggregate gross proceeds to the Company of\n \n US$716,100,000\n \n before underwriting commission and offering costs.\n \n \n \n \n \n \n \n \n \n The offering of an aggregate of 7,700,000 subordinate voting shares is being conducted through Morgan Stanley and Barclays, as joint lead book-running managers, and BMO Capital Markets and RBC Capital Markets, as book-running managers (collectively, the \"Underwriters\"). The offering is expected to close on or about August 11, 2021, subject to customary closing conditions.\n \n \n Lightspeed has granted the Underwriter\n \n s\n \n an over-allotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 1,155,000 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 gr...