MONTREAL, Aug. 11, 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 closing of its
previously-announced public offering of subordinate voting shares
in the United States and
Canada (the "Offering"). A total
of 7,700,000 subordinate voting shares of Lightspeed were issued
from treasury and sold at a price to the public of US$93.00 per share, for gross proceeds to the
Company of US$716.1 million before
underwriting commission and offering costs.
The Company has granted the underwriters an over-allotment
option, exercisable for a period of 30 days from the date hereof,
to purchase up to 1,155,000 additional subordinate voting shares of
the Company, representing in the aggregate 15% of the total number
of subordinate voting shares of the Company 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.
The offering was conducted through a syndicate of underwriters
led by Morgan Stanley and Barclays, as joint lead book-running
managers, and BMO Capital Markets and RBC Capital Markets, as
book-running managers.
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 in
respect of the intended use of proceeds of the offering.
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
news 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. 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.
SOURCE Lightspeed POS Inc.