StoneCo Ltd. - STNE STOCK NEWS

StoneCo Ltd. (Nasdaq: STNE) announces that Linx's Board approved a meeting for shareholders on November 17, 2020, to consider a business combination with Stone. This decision follows Stone's previous announcements about the transaction. Linx's Board has recommended acceptance based on evaluations showing Stone's offer as economically advantageous compared to a competing proposal from Totvs. Key conditions for the transaction include SEC approval, antitrust clearance, and shareholder votes from both Linx and Stone.

StoneCo Ltd. (Nasdaq: STNE) announced plans to issue Brazilian Depositary Receipts (BDR) as part of its business combination with Linx. This initiative, noted in an earlier announcement, will allow Linx shareholders to receive Stone BDRs as compensation. The BDR issuance represents a significant regulatory development, being one of the first sponsored BDR-Level I programs in Brazil following recent regulatory changes. The successful implementation of this transaction is contingent upon various approvals from the SEC and Brazilian authorities.

StoneCo Ltd. (STNE) announces an amended agreement to merge its business with Linx S.A., increasing the cash consideration to R$35.10 per Linx share, a 47% premium to Linx's 60-day VWAP. The break-up fee is reduced to R$454 million. The transaction, driven by independent board members, aims to enhance value for shareholders and clients by providing a robust commerce platform. The agreement also includes non-competition clauses for founding shareholders. The deal's completion depends on approvals from Brazilian authorities and shareholder meetings.

StoneCo Ltd. (NASDAQ:STNE) announced a follow-on offering of 27,375,000 Class A common shares priced at $47.50 each, set to close on August 17, 2020. The company has granted underwriters a 30-day option to purchase an additional 4,106,250 shares. Proceeds from the offering will primarily finance the acquisition of Linx S.A. and cover related fees, with any remaining funds allocated for general corporate purposes. Major firms like J.P. Morgan and Morgan Stanley are coordinating this offering.

StoneCo Ltd. announced a proposed follow-on public offering of $1.0 billion in Class A common shares, with an option for underwriters to purchase an additional $150 million. The proceeds will primarily finance the acquisition of Linx S.A. and cover related fees. If the acquisition does not proceed, funds will be allocated for general corporate purposes. The offering is filed with the SEC and will be coordinated by J.P. Morgan, Morgan Stanley, and Citigroup. StoneCo's shares are traded on Nasdaq under the ticker STNE.

StoneCo Ltd. (Nasdaq: STNE) will host a conference call on August 12, 2020, at 7:00 am ET to discuss its Q2 2020 financial results and the business combination with Linx. Interested parties can join the call by dialing specific numbers for different regions or via a live webcast, available on Stone's investor relations website. Stone provides financial technology solutions, supporting merchants in multi-channel commerce.

StoneCo Ltd. (STNE) has announced a definitive agreement to merge its subsidiary, STNE Participações S.A., with Linx, a major retail management software provider in Brazil. This strategic move aims to enhance Stone's technology offerings for merchants, providing Linx's 70,000 clients access to Stone’s payments and financial services. The merger, with a total consideration of R$33.76 per Linx share, represents a premium of 41.6% over Linx's average price prior to the announcement. The transaction is pending approval from regulatory authorities and Linx shareholders.

StoneCo Ltd. (STNE) reported a 27.9% year-over-year growth in Total Payment Volume (TPV) for Q2 2020, reaching R$38.1 billion. The company experienced a significant rebound, with TPV growth accelerating to 128.8% in July. Despite economic challenges from COVID-19, Stone's revenue increased 13.8% year-over-year to R$667.4 million. The active client base rose by 48.6% annually, though it decreased by 11.9 thousand in the quarter due to pandemic effects. Adjusted Net Income was R$150.3 million, with a 29.9% adjusted pre-tax margin. Stone remains focused on expanding its SMB market presence.

StoneCo Ltd. (NASDAQ: STNE) appointed Mrs. Luciana Ibiapina Lira Aguiar to its Board of Directors on May 21, 2020. She will also serve on the Audit Committee, replacing Mr. Ali Mazanderani, who remains on the Board. Aguiar brings over 25 years of experience in tax law, having previously served as managing partner at Bocater, Camargo, Costa e Silva Advogados and as a tax partner at PwC. She holds multiple degrees in law and economics and a Master’s in Tax Law. The current Board now includes Aguiar along with six other members.