MONTREAL, Aug. 9, 2021 /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 the United States and Canada.
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").
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.
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.
In connection with the offering, Lightspeed will file a
preliminary prospectus supplement to its short form base shelf
prospectus dated May 27, 2021 (the
"base shelf prospectus") with the securities regulatory authorities
in each of the provinces and territories of Canada, and with the U.S. Securities and
Exchange Commission as part of a registration statement on Form
F-10 under the U.S.-Canada
multijurisdictional disclosure system (MJDS). The public offering
will be made in Canada only by
means of the base shelf prospectus and preliminary prospectus
supplement and in the United
States only by means of the registration statement,
including the base shelf prospectus and preliminary prospectus
supplement. Such documents contain important information about the
offering. Copies of the base shelf prospectus, and the preliminary
prospectus supplement when filed, can be found on SEDAR
at www.sedar.com and a copy of the registration statement
can be found on EDGAR at www.sec.gov. Copies of such documents
may also be obtained from the following sources: Morgan Stanley,
Attn: Prospectus Department - 180 Varick Street, 2nd Floor -
New York, NY 10014 and Barclays,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone:
(888) 603-5847, email: Barclaysprospectus@broadridge.com.
Prospective investors should read the base shelf prospectus and
the preliminary prospectus supplement as well as the registration
statement before making an investment decision.
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 shall there be any sale of the subordinate voting
shares in any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such province, state
or jurisdiction.
About Lightspeed
Powering the businesses that are the backbone of the global
economy, Lightspeed's one-stop commerce platform helps merchants
innovate to simplify, scale and provide exceptional customer
experiences. The cloud solution transforms and unifies online and
physical operations, multichannel sales, expansion to new
locations, global payments, financing and connection to supplier
networks.
Founded in Montréal, Canada in
2005, Lightspeed is dual-listed on the New York Stock Exchange and
Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across
North America, Europe and Asia
Pacific, the company serves retail, hospitality and golf
businesses in over 100 countries.
Forward-Looking Statements
This press release may include forward-looking information and
forward-looking statements within the meaning of applicable
securities laws ("forward-looking statements"), including
statements regarding the proposed offering, terms of the offering,
closing of the offering and the intended use of proceeds
thereof.
Forward-looking statements are statements that are predictive in
nature, depend upon or refer to future events or conditions and are
identified by words such as "will", "expects", "anticipates",
"intends", "plans", "believes", "estimates" or similar expressions
concerning matters that are not historical facts. Such statements
are based on current expectations of the Company's management and
inherently involve numerous risks and uncertainties, known and
unknown, including economic factors. A number of risks,
uncertainties and other factors may cause actual results to differ
materially from the forward-looking statements contained in this
press release, including, among other factors, those risk factors
identified in the offering documents relating to the offering.
Readers are cautioned to consider these and other factors carefully
when making decisions with respect to Lightspeed's subordinate
voting shares and not to place undue reliance on forward-looking
statements. Forward-looking statements contained in this press
release are not guarantees of future performance and, while
forward-looking statements are based on certain assumptions that
the Company considers reasonable, actual events and results could
differ materially from those expressed or implied by
forward-looking statements made by the Company. Readers cannot be
assured that the offering discussed above will be completed on the
terms described above, or at all. Except as may be expressly
required by applicable law, Lightspeed does not undertake any
obligation to update publicly or revise any such forward-looking
statements, whether as a result of new information, future events
or otherwise. All of the forward-looking statements contained in
this press release are expressly qualified by the foregoing
cautionary statements.
SOURCE Lightspeed POS Inc.