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.
