Lesaka Technologies (LSAK) Registration Filing summary

Company overview and business model

• Operates a full-service fintech platform in Southern Africa, providing banking, payments, lending, insurance, and value-added services to underserved consumers and merchants.

• Focuses on financial inclusion, targeting social grant beneficiaries and micro-merchants, with 1.5 million active consumer customers and over 96,600 merchant customers as of September 2024.

• Completed the acquisition of Adumo in October 2024, strengthening its position in both consumer and merchant markets.

Financial performance and metrics

• Market value of stock held by non-affiliates is less than $250 million, qualifying as a smaller reporting company.

• 17,279,803 shares issued and ZAR 232.2 million ($13.4 million) paid as consideration for the Adumo acquisition.

• 79,223,227 shares of common stock outstanding as of November 22, 2024, including shares issued for the Adumo acquisition.

Use of proceeds and capital allocation

• No proceeds will be received from the sale of shares in this offering; all proceeds go to selling shareholders.

• Company bears registration and listing costs, while selling shareholders cover their own transaction expenses.