Company News

BUZZ-Shopify: Threatening to snap 4-day win streak on $400 mln equity raise

(Updates, adds pricing details)

** U.S.-listed shares of Shopify down ~8 pct at $148 premarket after Canadian e-commerce prices its follow-on

** Stock 2nd biggest pct NYSE loser before the bell; could snap 4-session win streak if losses hold

** Shopify offers 2.6 mln shares at $154 for gross raise of $400 mln

** Co says expects to use net proceeds to strengthen balance sheet, fund growth strategies

** Offering prices at bottom of $154-$156 range marketed by Morgan Stanley and Credit Suisse; represents 4.4 pct discount to stock’s last sale on Thurs

** Shopify has ~108 mln total shares outstanding as of Dec 11, per prospectus filing here

** SHOP.N shares have risen a third since co on Oct 25 posted surprise Q3 profit

** YTD, U.S.-listed shares up 59 pct, TSX-listed shares up 69 pct