Shopify’s $800 Million Convertible Senior Notes Offering

Skadden, Arps, Slate, Meagher & Flom LLP advised Shopify on the offering.

Shopify Inc. (NYSE:SHOP) (TSX:SHOP) (“Shopify”) announced its previously announced public offering of US$800,000,000 aggregate principal amount of convertible senior notes due 2025 (the “Notes”).

Shopify has granted the Note Underwriters an over-allotment option to purchase up to an additional US$120,000,000 aggregate principal amount of Notes (the “Note Over-Allotment Option”). The Note Over-Allotment Option is exercisable for a period of 30 days from the date of the final prospectus supplement relating to the Note Offering.

Shopify expects to use the net proceeds of the Offering to strengthen its balance sheet, providing flexibility to fund its growth strategies.

Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, Heinz, Staples and many more.

The Skadden team advising Shopify included Capital Markets partner Ryan Dzierniejko (New York; Picture), and associates Annabelle Gardere (Toronto) and Christopher Proctor (New York); and Derivatives partner Yossi Vebman (New York), and associates Yan Shurin (New York) and Brandon Bailey (New York).

Involved fees earner: Brandon Bailey – Skadden Arps Slate Meager & Flom; Ryan Dzierniejko – Skadden Arps Slate Meager & Flom; Annabelle Gardere – Skadden Arps Slate Meager & Flom; Christopher Proctor – Skadden Arps Slate Meager & Flom; Yan Shurin – Skadden Arps Slate Meager & Flom; Yossi Vebman – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Shopify Inc.;

Author: Ambrogio Visconti