Shopify-backed Global-E prices IPO at $25, trading commences today

May 12, 2021 7:20 AM ETGlobal-e Online Ltd. (GLBE)GLBE, SHOPBy: Niloofer Shaikh, SA News Editor6 Comments
  • Global-e Online (GLBE) has priced initial public offering of 15M of its ordinary shares at $25 per share, higher end of the expected range of $23-$25.
  • Underwriters' over-allotment is an additional 2.25M shares.
  • The shares are expected to begin trading today on Nasdaq and the offering is expected to close on May 14.
  • Last month, Shopify (NYSE:SHOP) bought 7.75M shares in the company, acquiring a 6.5% stake and after the IPO the stake will slip to 5.4%.
  • Shopify also acquired warrants that entitle it to an additional 11.85M shares over the coming two years, which could bring the value of Shopify's stake to nearly $500M if the current pricing holds.

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