Canadian e-commerce company Shopify Inc. has revealed the pricing of its initial public offering (IPO) of 2.6 million Class A subordinate voting shares at a price to the public of $154 per share.
Shopify expected gross proceeds from the offering, before underwriting discounts and offering costs, to be $400 million.
The company plans to use the net proceeds to bolster its balance sheet, providing flexibility to finance its development strategies.
The completion of the offering is subject to a number of closing conditions and is predicted to occur on or about December 18, 2018.