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Lightspeed Announces Closing of Initial Public Offering and Over-Allotment Option

03/15/2019

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES/

MONTREAL, March 15, 2019 /CNW Telbec/ - Lightspeed POS Inc. ("Lightspeed" or the "Company") (TSX: LSPD) today announced the closing of its initial public offering (the "Offering") of 17,250,000 subordinate voting shares at a price of C$ 16 per share for total gross proceeds of C$ 276 million, which includes the exercise in full by the underwriters of their over-allotment option to purchase up to 2,250,000 additional subordinate voting shares. Lightspeed expects to use the net proceeds from the Offering to strengthen its financial position, allowing it to pursue its growth strategies.

The subordinate voting shares are listed on the Toronto Stock Exchange under the symbol "LSPD".

BMO Capital Markets, National Bank Financial Inc. and J.P. Morgan Securities Canada Inc. acted as lead underwriters and joint bookrunners for the Offering. CIBC World Markets Inc., TD Securities Inc., Raymond James Ltd. and Scotiabank also acted as underwriters for the Offering.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the subordinate voting shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Lightspeed in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Lightspeed
Headquartered in Montréal, Canada, Lightspeed provides an easy-to-use, omni-channel commerce-enabling platform. The Company's software platform provides its customers with the critical functionalities they need to engage with consumers, manage their operations, accept payments, and grow their business. Lightspeed operates globally in approximately 100 countries, empowering single- and multi-location small and medium-sized businesses to compete successfully in an omni-channel market environment by engaging with consumers across online, mobile, social, and physical channels. Founded in 2005, the Company has grown to approximately 700 employees, with global offices in Canada, the United States, Europe, and Australia.

 

SOURCE Lightspeed POS Inc.

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