Company News

BUZZ-Shopify: Threatening to snap 4-day win streak on stock offering

** U.S.-listed shares of Shopify down ~6 pct at $152.088 premarket as Canadian e-commerce firm gets set to price its follow-on

** Stock among biggest pct NYSE losers; could snap 4-session win streak if losses hold

** After the bell Thurs, Shopify launched 2.6 mln share offering

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

** Morgan Stanley and Credit Suisse acting as joint bookrunners and re-offering shares in range of $154-$156, a 3-4.4 pct discount to stock’s last sale

** 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