Lightspeed POS Inc. (LSPD) Announces Launch of Marketed Public Offering of Subordinate Voting Shares

February 8, 2021 4:42 PM EST

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Lightspeed POS Inc. ("Lightspeed" or the "Company") (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce platforms, today announced the launch of a marketed public offering of Lightspeed's subordinate voting shares in the United States and Canada.

A total of 7,000,000 subordinate voting shares will be offered by Lightspeed for sale under the offering, which will be conducted through a syndicate of underwriters led by Morgan Stanley, Barclays and BMO Capital Markets, as joint lead book-running managers, with Credit Suisse and RBC Capital Markets as joint-bookrunners, and CIBC Capital Markets, KeyBanc Capital Markets, National Bank Financial Inc., Raymond James and TD Securities as co-managers. The offering will be priced in the context of the market with the price and total size of the offering to be determined at the time of entering into an underwriting agreement for the offering.

Lightspeed and certain members of the Company's management including Dax Dasilva will also grant the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 1,050,000 additional subordinate voting shares, representing in the aggregate 15% of the total number of subordinate voting shares to be sold pursuant to the offering. Lightspeed will not receive any of the proceeds of the sale of subordinate voting shares by the selling shareholders.

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. Closing of the offering will be subject to a number of customary conditions, including the entering into of the definitive underwriting agreement, the listing of the subordinate voting shares issued by Lightspeed as part of the offering on the NYSE and the TSX, and any required approvals of the NYSE and the TSX.

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