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 that the size of its previously
announced public offering of subordinate voting shares in
the United States and Canada has been increased to 7,700,000
subordinate voting shares at a price to the public of US$93 per share for aggregate gross proceeds to
the Company of US$716,100,000 before
underwriting commission and offering costs.
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.
Lightspeed has 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 1,155,000
additional subordinate voting shares, representing in the aggregate
15% of the total number of subordinate voting shares to be sold
pursuant to the offering.
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.
In connection with the offering, Lightspeed has filed a
preliminary prospectus supplement, and will file a final prospectus
supplement, to its short form base shelf prospectus dated
May 27, 2021
(the "base shelf prospectus"). The preliminary
prospectus supplement was filed, and the final prospectus
supplement will be filed, with the securities regulatory
authorities in each of the provinces and territories of
Canada as well as 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 is being made in Canada only by means of the base shelf
prospectus and applicable prospectus supplement and in the United States only by means of the
registration statement, including the base shelf prospectus and
applicable prospectus supplement. Such documents contain important
information about the offering. Copies of the base shelf prospectus
and the applicable prospectus supplement 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 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.