Shopify files for proposed IPO

The number of shares to be sold and the price range for the proposed offering have not yet been determined and Shopify intends to apply to list its Class A subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols “SHOP” and “SH”, respectively.

Morgan Stanley, Credit Suisse and RBC Capital Markets are acting as joint book-running managers for the offering. Pacific Crest Securities, Raymond James & Associates and Canaccord Genuity are acting as co-managers. A registration statement relating to the Class A subordinate voting shares has been filed with the SEC but has not yet become effective. The Class A subordinate voting shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

A preliminary prospectus has been filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada containing important information relating to the Class A subordinate voting shares. The preliminary prospectus remains subject to completion or amendment and there will not be any sale or any acceptance of an offer to buy the Class A subordinate voting shares until a receipt for the final prospectus has been issued by the relevant securities commissions in Canada. The offering will be made only by means of a prospectus.