MONTREAL, Sept. 15, 2020 /PRNewswire/ - Lightspeed POS
Inc. ("Lightspeed" or the "Company") (NYSE: LSPD) (TSX: LSPD)
today announced the closing of its previously-announced marketed
public offering of subordinate voting shares in the United States and Canada, representing Lightspeed's initial
public offering in the United
States. A total of 13,039,004 subordinate voting shares of
Lightspeed were sold, including 1,389,004 subordinate voting shares
following the partial exercise by the underwriters of their
over-allotment option, at a price of US$30.50 per share, for gross proceeds to the
Company of US$332.3 million and to
selling shareholders of US$65.4
million.
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, Barclays and BMO Capital Markets, as joint
lead book-running managers, with BofA Securities and RBC Capital
Markets as joint-bookrunners, and CIBC Capital Markets, KeyBanc
Capital Markets, Raymond James,
Scotiabank, TD Securities, and Truist Securities as
co-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
Lightspeed (NYSE and TSX: LSPD) powers complex small and
medium-sized businesses with its cloud-based, omnichannel commerce
platforms in over 100 countries. With smart, scalable and
dependable point of sale systems, Lightspeed provides all-in-one
solutions that drive innovation and digital transformation within
the retail, hospitality and golf industries. Its product suite
enables SMBs to sell across channels, manage operations, engage
with consumers, accept payments and ultimately grow their
business.
Headquartered in Montreal,
Canada, Lightspeed is trusted by favorite local businesses
worldwide, where communities go to shop and dine. Lightspeed has
staff located in Canada,
USA, Europe, and Australia.
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. 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.
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SOURCE Lightspeed POS Inc.