Shopify Announces Closing of Underwriters' Over-Allotment Option in Connection with Offering of Class A Subordinate Voting Sh...
June 02 2017 - 9:59AM
Business Wire
Shopify Inc. (NYSE:SHOP)(TSX:SHOP) (“Shopify”) today announced
that, in connection with its recent public offering of 5,500,000
Class A subordinate voting shares completed on May 24, 2017 (the
“Offering“), the underwriters to the Offering exercised their
option (the “Over-Allotment Option”) in full to purchase an
additional 825,000 Class A subordinate voting shares. The sale of
the additional Class A subordinate voting shares pursuant to the
Over-Allotment Option was completed today, and brings the aggregate
gross proceeds from the Offering to US$575,575,000.
Morgan Stanley and Credit Suisse acted as bookrunners and CIBC
Capital Markets acted as co-manager in the Offering.
No securities regulatory authority has either approved or
disapproved the contents of this news release. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such province, state
or jurisdiction.
About Shopify
Shopify is the leading cloud-based, multi-channel commerce
platform designed for small and medium-sized businesses. Merchants
can use the software to design, set up, and manage their stores
across multiple sales channels, including web, mobile, social
media, marketplaces and physical retail locations. The platform
also provides merchants with a powerful back-office and a single
view of their business. The Shopify platform was engineered for
reliability and scale, making enterprise-level technology available
to businesses of all sizes. Shopify currently powers hundreds of
thousands of businesses in approximately 175 countries and is
trusted by brands such as Tesla, Nestle, GE, Red Bull, Kylie
Cosmetics, and many more.
Forward-looking Statements
This press release contains forward-looking information and
forward-looking statements within the meaning of applicable
securities laws (“forward-looking statements“). Words such as
“expects”, “anticipates” and “intends” or similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions and no
assurance can be given that the proceed of the offering will be
used on the terms described. Shopify undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as may be required by law.
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ShopifyINVESTORS:Katie Keita, 613-241-2828Director, Investor
RelationsIR@shopify.comorMEDIA:Sheryl So, 416-238-6705 x 302Public
Relations Managerpress@shopify.com
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