Lightspeed slows down after $716 mln equity raise

American Battery Materials

09/08/2021 19:25

(Updates with pricing details)
    ** U.S.-listed shares of Lightspeed Commerce  LSPD.N  down
4.6% at $92.74, snapping 5-session winning streak, as Canadian
software firm raises equity 
    ** Co sells 7.7 mln shares, raises $716 mln with Morgan
Stanley and Barclays leading the offering  urn:newsml:reuters.com:*:nCNWzHbCCa
    ** Deal size boosted from 7 mln shares, prices at 4.3%
discount to stock's Fri close
    ** LSPD plans to use net proceeds to bolster financial
position, fund growth strategies
    ** Co has ~133.7 mln shares outstanding as of Aug 6, per
filing https://www.sec.gov/Archives/edgar/data/1823306/000114036121027433/ny20000252x3_ussuppl.htm#psUOP
    ** Last Thurs, co said fiscal Q1 rev more than tripled
yr/yr, helped partially by gains from recent acquisitions of
ShopKeep, Upserve and Vend, and hiked full year outlook
 urn:newsml:reuters.com:*:nCNWPgvJVa
    ** U.S.-listed LSPD shares now up 32% YTD and hovering near
record highs

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))