The Globe and Mail is reporting that Shopify has increased the maximum share price for its upcoming IPO. According to a regulatory filing today, the Ottawa-based e-commerce platform is seeking to raise as much as $123.2 million (USD), with shares selling between $14-16 USD.
Previous reports had Shopify looking to raise $107.8 million (USD) from 7.7 million shares, sold between $12-14.
The Globe and Mail report also states that Shopify’s initial public offering is expected later this week, which means the company will beat BetaKit by a few days.
Shopify recently passed $5 billion in total sales, with over 160,000 businesses using its software for their online business and eCommerce needs.