LSPD

Canadian software provider Lightspeed POS files for a $376 million US IPO

Lightspeed POS, a Canadian cloud-based POS software provider, filed on Wednesday with the SEC to raise up to $376 million in an initial public offering.

The Montreal, Canada-based company plans to raise $376 million by offering 11.7 million shares (14% insider) at $32.31, the as-converted last close of its shares on the Toronto Stock Exchange (LSPD). At the proposed price, Lightspeed POS would command a fully diluted market value of $3.4 billion.

Lightspeed POS was founded in 2005 and booked $133 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol LSPD. Morgan Stanley, Barclays, BMO Capital Markets, BofA Securities and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 7, 2020.

The article Canadian software provider Lightspeed POS files for a $376 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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