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Canadian software provider Lightspeed to seek NYSE listing

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Lightspeed says it will offer 10 million subordinate voting shares from its treasury, while Caisse, its biggest shareholder, will sell 1.65-million of its 25.9-million subordinate shares

This translation has been automatically generated and has not been verified for accuracy.Fast-growing Canadian software provider Lighstpeed POS Inc. is going public on the New York Stock Exchange despite recent market shakiness for technology stocks.

The underwriters on the offering, led by Morgan Stanley, Barclays and BMO Capital and including another eight U.S. and Canadian banks, have the right to buy an additional 1.75 additional subordinate shares from the company and from five senior executives including CEO Dax Dasilva during the 30 days after the offering closes.Lightspeed said it expects to use the net proceeds of the offering “primarily to strengthen the company’s financial position and allow it to pursue its growth strategies.

 

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