The Montreal-based point-of-sale software company filed a shelf prospectus Thursday for the option to raise up to the amount over 25 months through subordinate voting and preferred shares, debt securities, warrants and other instruments. (The Logic)

Talking point: Lightspeed did not specify how it would use proceeds, but these types of offerings tend to indicate an appetite for future acquisitions, a strategy the company has relied on heavily so far. A few months after its March 2019 initial public offering on the Toronto Stock Exchange, CEO Dax Dasilva said the company had “a very robust pipeline” of acquisitions after snapping up iKentoo. Lightspeed then beefed up its balance sheet by filing for a listing on the New York Stock Exchange in September 2020. That November, it announced it was purchasing ShopKeep, a New York cloud commerce platform, for US$440 million, and the following month, it paid US$123 million in cash and issued new shares for Upserve, a restaurant-software maker. Earlier this year, it sold 8.4 million shares for US$588 million to keep fuelling its acquisition activity. The company reported its fourth-quarter results Thursday, revealing revenue grew 127 per cent to US$82.4 million, with Upserve and ShopKeep making up US$31.2 million of that total.