15:30:25 EDT Mon 29 Apr 2024
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Lightspeed Commerce Inc
Symbol LSPD
Shares Issued 153,390,269
Close 2024-03-26 C$ 18.79
Market Cap C$ 2,882,203,155
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Globe says Lightspeed founder mulling privatization

2024-03-26 07:30 ET - In the News

The Globe and Mail reports in its Tuesday edition that Lightspeed Commerce founder Dax Dasilva has privatization on his mind. The Globe's Sean Silcoff writes that on Monday Mr. Dasilva told La Presse he has wondered about taking the company private. Mr. Dasilva told The Globe that he had talked to investment bankers and dozens of investors since returning as interim chief executive officer last month, replacing former right-hand man Jean Paul Chauvet. Mr. Dasilva said: "People have remarked to me since I've come back that going private would be a good option for Lightspeed. As other companies weigh that decision, that's one of the strategic options open to the company. We're evaluating all options, our board has a fiduciary duty to evaluate all options." Mr. Dasilva said Lightspeed's board had not formally launched a strategic review nor had it hired investment bankers: "We're passively receiving their recommendations. I'm taking a lot of calls. I'm open to discussions." He said he continues to believe "the public markets are a good place for Lightspeed." Mr. Dasilva has hinted Lightspeed could slash costs and said he had no interest in making more acquisitions. Lightspeed reports fourth quarter results in May.

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