Daily News: May 6, 2019

CIBC Provides $55MM Facilities to Lightspeed


Lightspeed POS entered into new credit facilities with the Canadian Imperial Bank of Commerce, which include a $25 million demand revolving operating credit facility and a $30 million stand-by acquisition term loan.

The new credit facilities replace the previous $15 million working capital line of credit with Silicon Valley Bank. The acquisition facility will be available for draw up to 24 months and will mature 60 months after the initial drawdown under the acquisition facility. In its supplemented PREP prospectus dated March 7, 2019, Lightspeed disclosed that it entered into a non-binding term sheet with CIBC dated February 14, 2019 with respect to the new credit facilities.

Headquartered in Montréal, Lightspeed provides an easy-to-use, omni-channel commerce-enabling software platform.