Ann: Pushpay 2020 Investor Day Presentation, page-39

Its doesn't really have anything to do with the share price in this case. There are only 275M shares on issue currently, which is not a huge amount. They may want to list on the NASDAQ or be included in the ASX 200 amd need to have more shares available as part of the listing rules. The could always do a capital raise and issue more shares but they don't need the cash and don't want to dilute existing share holders for no reason.
It doesn't have anything to do with the share price.