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Shop to the top: Shopify prices IPO above upwardly revised range at $17

May 20, 2015

Shopify, which provides a cloud-based platform for small businesses to create online stores, raised $131 million by offering 7.7 million shares at $17, above the upwardly revised range of $14 to $16. The company originally planned to offer shares at $12 to $14. Shopify plans to list on the NYSE under the symbol SHOP and on the TSX under the symbol SH. Shopify initially filed confidentially on 2/18/2015. Morgan Stanley, Credit Suisse and RBC Capital Markets acted as lead managers on the deal.