Lightspeed POS closes NYSE IPO, secures $398m in all

Lightspeed POS, a Montreal-based point-of-sale and e-commerce software provider, has closed its of initial public offering in the U.S. It raised US$398 million in total and gained a listing on the New York Stock Exchange. Selling shareholders, including Caisse de dépôt et placement du Québec, accounted for more than US$65 million of the total raised.

PRESS RELEASE

MONTREAL, Sept. 15, 2020 /CNW/ – 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 andTSX: 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.