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Shopify Closes $330 Million Public Offering

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.

August 22, 2016

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