Arco Platform Limited Announces Proposed Public Primary Offering of Class A Common Shares
Arco Platform Limited (Nasdaq: ARCE) announced the launch of a public offering of 5,200,000 Class A common shares, with an option for underwriters to purchase an additional 780,000 shares. The net proceeds will be used for future acquisitions or investments in complementary businesses. Goldman Sachs & Co. LLC and Morgan Stanley are the Global Coordinators for this offering. The public offering is subject to market conditions and will be conducted under a previously filed shelf registration statement with the SEC. Investors are cautioned regarding forward-looking statements and associated risks.
- Net proceeds aimed at funding future acquisitions or investments.
- Offering of new shares may lead to potential dilution of existing shareholders.
SÃO PAULO, Brazil, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (Nasdaq: ARCE), announced today the commencement of an underwritten public offering of 5,200,000 Class A common shares to be issued by Arco. In connection with the offering, Arco has granted the underwriters an option to purchase up to 780,000 of additional Class A common shares.
We intend to use the net proceeds from this offering to fund future acquisitions or investments in complementary businesses, products or technologies.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as Global Coordinators in this public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The offering is being made only by means of a prospectus and related prospectus supplement forming part of a shelf registration statement on Form F-3 that was previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on October 21, 2019. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com; or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Arco
Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning, interactive proprietary content, and scalable curriculum allows students to personalize their learning experience with high-quality solutions while enabling schools to provide a broader approach to education.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of our Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. None of Arco or the underwriters undertakes any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors. Our independent public auditors have neither examined nor compiled the forward-looking statements and, accordingly, do not provide any assurance with respect to such statements. In light of the risks and uncertainties described above, the future events and circumstances discussed in this press release might not occur and are not guarantees of future performance. Because of these uncertainties, you should not make any investment decision based upon these estimates and forward-looking statements.
Investor Relations Contact
Arco Platform Limited
IR@arcoeducacao.com.br
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