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Shopify Closes $500 Million Public Offering
- Client News
- May 24, 2017
Shopify Inc., the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, closed a $500 million equity offering of 5,500,000 Class A subordinate voting shares at a price of $91 per share. Paul, Weiss represented the underwriters on the offering, led by Morgan Stanley and Credit Suisse as bookrunning managers. 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 Chuck Googe and counsel Jonathan Ashtor.