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Lightspeed Announces Closing of New Credit Facilities with CIBC

04/02/2019

MONTREAL, April 2, 2019 /CNW Telbec/ - Lightspeed POS Inc. ("Lightspeed" or the "Company") (TSX: LSPD) announced that, effective today, it has entered into new credit facilities with the Canadian Imperial Bank of Commerce ("CIBC"), which include a $25 million demand revolving operating credit facility (the "Revolver") and a $30 million stand-by acquisition term loan (the "Acquisition Facility", and together with the Revolver, the "New Credit Facilities"). The New Credit Facilities replace the previous $15 million working capital line of credit granted to the Company by Silicon Valley Bank. The Acquisition Facility will be available for draw up to 24 months and will mature 60 months after the initial drawdown under the Acquisition Facility. In its supplemented PREP prospectus dated March 7, 2019, Lightspeed disclosed that it entered into a non-binding term sheet with CIBC dated February 14, 2019 with respect to the New Credit Facilities.

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.

Forward-Looking Statements

This news release may include forward-looking statements. 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 referenced in the section entitled "Risk Factors" in the Company's supplemented PREP prospectus dated March 7, 2019, a copy of which is available on the SEDAR website at www.sedar.com under the Company's profile. Forward-looking statements contained in this news 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 are cautioned to consider these and other factors carefully when making decisions with respect to the Company and not place undue reliance on forward-looking statements. 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.

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