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Shopify Closes $658 Million Public Offering
- Client News
- February 23, 2018
Shopify Inc., the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, closed a $658 million equity offering of 4,800,000 Class A subordinate voting shares at a price of $137 per share. Paul, Weiss represented the underwriters on the offering, led by Credit Suisse and Morgan Stanley as joint bookrunners. Shopify intends to use the proceeds to strengthen its balance sheet and help fund its growth strategies. The shares are listed on the NYSE and the TSX under the ticker symbol “SHOP.”
The Paul, Weiss team included corporate partner Christopher Cummings; tax partner David Mayo; and intellectual property partner Charles Googe and counsel Jonathan Ashtor.