Shopify Announces Closing of Underwriters' Over-Allotment Option in Connection with Offering of Class A
Subordinate Voting Shares
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.
Shopify
INVESTORS:
Katie Keita, 613-241-2828
Director, Investor Relations
IR@shopify.com
or
MEDIA:
Sheryl So, 416-238-6705 x 302
Public Relations Manager
press@shopify.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170602005484/en/