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Lightspeed Announces Closing of Bought Deal Offering of Subordinate Voting Shares

02/27/2020

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, Feb. 27, 2020 /CNW Telbec/ - Lightspeed POS Inc. ("Lightspeed" or the "Company") (TSX: LSPD) today announced the closing of the previously-announced new issue and secondary offering by its shareholders, namely Caisse de dépôt et placement du Québec ("Caisse"), Investissement Québec ("IQ") and Inovia Capital (through entities controlled by them) ("Inovia" and, together with Caisse and IQ, the "Selling Shareholders"), of an aggregate of 7,717,650 subordinate voting shares at a purchase price of C$37.30 per subordinate voting share for aggregate gross proceeds of C$287.9 million to the Company and the Selling Shareholders, which includes the exercise in full by the underwriters of their over-allotment option to purchase up to 1,006,650 additional subordinate voting shares (the "Offering"). 4,695,000 subordinate voting shares were issued from treasury and sold by Lightspeed for aggregate gross proceeds of C$175.1 million and an aggregate of 3,022,650 subordinate voting shares were sold by the Selling Shareholders for aggregate gross proceeds of C$112.7 million.

Logo: Lightspeed POS Inc. (CNW Group/Lightspeed POS Inc.)

BMO Capital Markets and National Bank Financial Inc. acted as joint bookrunners for the Offering. CIBC Capital Markets, RBC Capital Markets, TD Securities Inc., Barclays Capital Canada Inc., Scotia Capital Inc., Raymond James Ltd., Eight Capital and PI Financial Corp. also acted as underwriters for the Offering.

No securities regulatory authority has either approved or disapproved the contents of this press release. The subordinate voting shares have not been, and will not be, registered under 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 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

About Lightspeed

Lightspeed (TSX: LSPD) is a cloud-based commerce platform powering small and medium-sized businesses in over 100 countries around the world. With smart, scalable, and dependable point of sale systems, it's an all-in-one solution that helps restaurants and retailers sell across channels, manage operations, engage with consumers, accept payments, and grow their business.

Headquartered in Montréal, Canada, Lightspeed is trusted by favorite local businesses, where the community goes to shop and dine. Lightspeed has offices in Canada, the USA, Europe, and Australia.

For more information, please visit: www.lightspeedhq.com

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SOURCE Lightspeed POS Inc.

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