Possible new Shopify shares
SHOPDilution
Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: warrants, converts, ATM.
Shelf room
- Room today not capped by the baby-shelf rule ($140B float, Jun 30, 2025)
How this is worked out
Shelf room on the S-3ASR of Nov 3, 2026: not limited by the baby-shelf rule, because the $140B public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3ASR Nov 3, 2026, effective Nov 3, 2026 · public float, as of Jun 30, 2025.
What could become new Shopify (SHOP) shares: options and RSUs, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.
Shopify dilution ladder
Every source of new shares on record, from the filings that created it.
1.3B outstanding; up to 1.3B fully diluted, +1%
- Outstandingas of Oct 30, 2026 (10-Q filed Nov 3) · share count on the cover page1.3B
- +16.2M
Not stated in the filings we read: an ATM program, warrants, convertible notes.
Counts, sizes and prices as stated in each filing; the fully diluted count is arithmetic on them. Dollars become shares only at a price a filing states. Not advice.
Financing terms to know
None found in filings since Nov 3, 2026.
Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.
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