The fruits of the offering, which amounted to US$70 a share, “will be used primarily to strengthen the company’s financial position and allow it to pursue its growth strategies,” according to its press release. CEO Dax Dasilva and other executives at the Montreal-based point-of-sale technology company have an option to sell another 1.26 million shares at the same price. Morgan Stanley, Barclays and BMO Capital Markets are the joint lead bookrunning managers underwriting the deal. (The Logic)
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The fruits of the offering, which amounted to US$70 a share, “will be used primarily to strengthen the company’s financial position and allow it to pursue its growth strategies,” according to its press release. CEO Dax Dasilva and other executives at the Montreal-based point-of-sale technology company have an option to sell another 1.26 million shares at the same price. Morgan Stanley, Barclays and BMO Capital Markets are the joint lead bookrunning managers underwriting the deal. (The Logic)
Talking point: Lightspeed has been on an acquisition binge as of late, snapping up restaurant-management software company Upserve in a cash-and-share deal worth US$430 million in December 2020, as well as a similarly structured deal for cloud commerce platform ShopKeep, worth US$440 million. Dasilva owns 14.4 million shares, which represent just over 12 per cent of the company.
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