![]() The company booked a net loss of $96 million in its fiscal year ending in March 2018.īMO Capital Markets, National Bank Financial Inc. 31, 2018 was $20 million, 33 per cent growth above the same period last year. Revenue for the most recent quarter ending Dec. It’s not just a Canada-only story.”Īccording to regulatory filings available on SEDAR, Lightspeed generated US$72 million in revenue over the past year. “It checks a lot of boxes we think investors like right now, which are higher-margin tech-type names, growing fast, with recurring revenues,” Modesto said. The company has approximately 700 employees. ![]() Lightspeed currently operates in more than 100 countries with eight offices spanning Canada, the U.S., Europe, and Australia. “There are a lot of great quality companies out there in Canada that are outside of your usual energy and materials sectors, but you don’t hear about them.”įounded in 2005, the company provides cloud-based point-of-sale, payment processing and other services to small and midsize business. ![]() ![]() “When you have a new Canadian company come into the market that is kind of a higher-growth company, we think it’s something that should be celebrated,” he told Yahoo Finance Canada on Friday. Shares rose as high as $20.22 in early trading.ĥi Research chief executive officer Ryan Modesto is surprised Lightspeed’s IPO did not attract more attention, given the scarcity of new Canadian technology investment options. The stock climbed to $19.36 at 12:46 p.m. The company raised $240 million in the biggest initial public offering by a Canadian technology company in almost nine years. The company debuted on the Toronto Stock Exchange under the ticker ( LSPD.TO) with an initial share price of $16 on Friday. The company did not raise any new money in between its US $61 million Series D in September 2015 and the closing of Series E.Shares of Montreal-based payment technology firm Lightspeed POS Inc. The financing was, in fact, merely a US $20 million Series E new funding round, the rest was the conversion and secondary purchase by CDPQ of some of the common shares and all of the Series A-1, A-2, and C preferred shares into Series E preferred shares. Note: In October 2017, Lightspeed announced the closing of US $166 million Series D financing. Lightspeed has also raised debt financing from Hercules Technology Growth Capital, Inc. Investors include CDPQ, Investissement Quebec (IQ), iNovia Capital, Accel Partners (the only Series A investor, has since been bought out by CDQP). Lightspeed has raised approximately US $200 million in equity funding since its inception. Dasilva is expected to maintain control of the company through holding of multiple voting shares. Lightspeed has approximately 700 employees, with global offices in Canada, the United States, Europe, and Australia.įounder & CEO, Dax Dasilva, and the largest shareholder, Caisse de dépôt et placement du Québec (CDPQ), will be the two principal shareholders following the closing of the offering. Lightspeed POS has applied to list its subordinate voting shares on the Toronto Stock Exchange (TSX) under the symbol “LSPD”.įounded in 2005, Montreal based Lightspeed provides an easy-to-use, omni-channel commerce-enabling SaaS platform. Stikeman Elliott LLP and Osler, Hoskin & Harcourt LLP act as legal counsel to Lightspeed and the underwriters respectively. The offering is being underwritten by BMO Nesbitt Burns Inc., National Bank Financial Inc. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of subordinate voting shares to be priced.
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