Shopify Closes $400 Million Public Offering

Shopify Inc., the leading omni-channel commerce platform, closed a $400 million equity offering of 2,600,000 Class A subordinate voting shares at a price of $154 per share. Paul, Weiss represented the underwriters on the offering, Morgan Stanley and Credit Suisse, which acted 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 and counsel Christian Kurtz; tax partner David Mayo; and intellectual property partner Chuck Googe and counsel Jonathan Ashtor.