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Shopify Closes $330 Million Public Offering
- Client News
- August 22, 2016
Practices
Shopify Inc., the leading cloud-based, multi-channel commerce
platform designed for small and medium-sized businesses, closed a
$330 million underwritten public offering of 8,625,000 Class A
subordinate voting shares, of which 2,500,000 were sold by certain
selling shareholders in a secondary offering, at an offering price
of $38.25 per share. The sale of the shares yielded $225.496
million in aggregate gross proceeds for Shopify. The shares are
listed on the NYSE under the ticker symbol "SHOP" and on the TSX
under the ticker symbol "SH."
Paul, Weiss represented the underwriters on the offering, led by
Morgan Stanley, Credit Suisse and RBC Capital Markets as
bookrunning managers. The Paul, Weiss team included corporate
partner Christopher Cummings; and tax
partner David
Mayo.