dLocal Announces Pricing of Initial Public Offering

Rhea-AI Summary

dLocal Limited has priced its initial public offering (IPO) at $21.00 per share, exceeding the expected range of $16.00 to $18.00. The offering includes 29,411,765 Class A common shares, with dLocal offering 4,411,765 shares and selling shareholders providing 25,000,000 shares. Trading on Nasdaq under the symbol DLO is set to commence on June 3, 2021, with closure expected by June 7, 2021, pending customary conditions. Proceeds will enhance technology investments, support working capital, drive growth opportunities, and serve general corporate purposes.

Positive

• IPO priced above expected range at $21.00 per share.
• Intended use of proceeds includes technology investments and growth opportunities.
• Potential for future acquisition of payment-related companies.

Negative

• Potential dilution from additional 4,411,765 shares from underwriters' option.

SAN FRANCISCO, June 02, 2021 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”), a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, today announced that it has priced its initial public offering of 29,411,765 Class A common shares, consisting of 4,411,765 Class A common shares offered by dLocal and 25,000,000 Class A common shares offered by the selling shareholders, pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”) at a public offering price of $21.00 per share, above the price range of $16.00 to $18.00 per share. The Class A common shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “DLO” on June 3, 2021 and the offering is expected to close on June 7, 2021, subject to customary closing conditions.

In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 4,411,765 Class A common shares at the initial public offering price, less underwriting discounts and commissions.

dLocal intends to use the net proceeds from the offering (1) to accelerate investments in technology, (2) to manage potential working capital needs, (3) to pursue growth opportunities, including through the acquisition of cross-border payment processing companies, software development companies or other payment related companies and (4) for general corporate purposes.

The offering is being made through an underwriting group led by J.P. Morgan, Goldman Sachs & Co. LLC, Citigroup and Morgan Stanley who are acting as global coordinators, and BofA Securities, HSBC and UBS Investment Bank who are acting as joint bookrunners.

The offering will be made only by means of a prospectus. When available, copies of the final prospectus may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866 803 9204, or by email at prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email to: prospectus@morganstanley.com.

A registration statement on Form F-1 relating to these securities has been filed with, and declared effective by, the SEC. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. 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 dLocal
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers in 29 countries across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

Company Contact
Paula Villamarin
Communications Manager
marketing@dlocal.com

Julia Vater Fernández
Head of Investor Relations
investor@dlocal.com

FAQ

What is the price of dLocal's IPO?

dLocal's IPO is priced at $21.00 per share.

When will dLocal's shares start trading?

dLocal's shares are expected to begin trading on Nasdaq on June 3, 2021.

What are the intended uses of the funds raised from the IPO?

The funds will be used for technology investments, working capital, growth opportunities, and general corporate purposes.

What is the ticker symbol for dLocal?

dLocal's ticker symbol is DLO.

What is the total number of shares being offered in dLocal's IPO?

A total of 29,411,765 Class A common shares are being offered.

What is the anticipated closing date for dLocal's IPO?

The offering is expected to close on June 7, 2021, subject to customary conditions.

Is there a possibility of additional shares being sold in the IPO?

Yes, underwriters have a 30-day option to purchase up to an additional 4,411,765 shares.