At $317.50 each, SHOP says the net proceeds of the offering are expected to be just over $603 million. 16, Shopify announced the pricing of 1.9 million class A subordinate voting shares.
There was a recovery over the next several days as investors mulled the long-term implications of the deal, but that was short-lived.ġ0 Defense Stocks to Buy During Rising Geopolitical Tensions SHOP stock dropped on the news of the 6 River System acquisition, taking a 6% hit. The executives who had previously helped to develop Amazon’s robotic fulfillment systems bring valuable knowledge and experience to the company. In addition, with the acquisition, Shopify also lands the founders of 6 River Systems. The move bolsters Shopify’s logistics capabilities, and gives member merchants access to cheaper and more effective shipping and warehousing services. The purchase of the company that specializes in robotic warehouse fulfillment solutions signaled that Shopify was better positioning itself to take on Amazon (NASDAQ: AMZN). “Shopify is taking on fulfillment the same way we’ve approached other commerce challenges, by bringing together the best technology to help everyone compete … With 6 River Systems, we will bring technology and operational efficiencies to companies of all sizes around the world.” InvestorPlace - Stock Market News, Stock Advice & Trading Tips 9, Shopify announced it was spending $450 million to purchase 6 River systems:
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