NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
MONTREAL, March 7, 2019 /CNW Telbec/ - Lightspeed POS Inc. ("Lightspeed" or the "Company") today announced the pricing of its initial public offering (the "Offering") of 15,000,000 subordinate voting shares at a price of C$ 16 per share for total gross proceeds of C$ 240 million. The offering size was increased from C$ 200 million to C$ 240 million and the price per subordinate voting share was increased to C$ 16 per share, above the initial marketing range of C$ 13 to C$ 15 per subordinate voting share.
The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the subordinate voting shares. The subordinate voting shares are expected to begin trading on the TSX on an "if, as and when issued basis" on March 8, 2019 under the ticker "LSPD". The Offering is expected to close on March 15, 2019, subject to the satisfaction of customary closing conditions.
BMO Capital Markets, National Bank Financial Inc. and J.P. Morgan Securities Canada Inc. are acting as lead underwriters and joint bookrunners for the Offering. CIBC World Markets Inc., TD Securities Inc., Raymond James Ltd. and Scotiabank are also acting as underwriters for the Offering.
Lightspeed has also granted the underwriters an over-allotment option, exercisable in whole or in part at any time for a period of 30 days following the closing date of the Offering, to purchase, in aggregate, up to an additional 2,250,000 subordinate voting shares at a price of C$ 16 per share.
The Company has obtained a receipt for a final base PREP prospectus filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada on March 7, 2019. A copy of the supplemented PREP prospectus containing pricing information and other important information relating to the subordinate voting shares and the Offering will be filed and become available on SEDAR at www.sedar.com on or about March 8, 2019.
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.
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.
This press release contains certain forward-looking statements, including statements with regard to the closing of the Offering. Words such as "expects", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the Offering discussed above will be completed on the terms described. Completion of the Offering and the terms thereof are subject to numerous factors, many of which are beyond Lightspeed's control, including, without limitation, failure to meet customary closing conditions and the risk factors and other matters set forth in Lightspeed's filings with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. Lightspeed undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law
SOURCE Lightspeed POS Inc.