Most noteworthy, institutional investors hold nearly 45% of the company’s total shares. His influence in the company’s strategic direction remains significant, and it’s highly unlikely that we could see a change in voting control anytime soon. The award-winning CEO owns 14,667, 922 multiple voting shares (about 16% of total shares outstanding), but he enjoys a 43% voting power in the company. Dax at least graduated but as a historian.Īt 44, Dax is currently the youngest and the longest-serving director of the company. Many are high school or college dropouts like Shopify’s Tobias Lütke and Microsoft’s Bill Gates. Yes, there’s always something that stands out about many successful founders of tech companies. He inherited an interest in computers from his father, enrolled as a computer science student at the University of British Columbia, but later switched courses and graduated with a Bachelor’s in religion and art history. The company’s founder and current CEO is Vancouver-born Dax Dasilva, whose parents migrated from Uganda to Canada in 1972. Lightspeed POS is a founder-led TSX tech stockįounded in 2005 as a retail point-of-sale software vendor, LSPD was born just about the same time as commerce software giant Shopify (TSX:SHOP)(NYSE:SHOP). These may help you decide if LSPD stock belongs to your portfolio. Here are some fascinating facts about this TSX tech growth stock you might not be aware of. The COVID-19 pandemic and recent product launches rapidly unlocked new growth opportunities for Lightspeed POS this year. The omnichannel commerce software provider is a favourite TSX tech stock among retail investors right now. 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.Lightspeed POS’s (TSX:LSPD) stock price has made a strong 260% recovery from all-time lows recorded during the height of the coronavirus market crash of March 2020. 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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