VTEX Announces Pricing of Initial Public Offering

Rhea-AI Summary

VTEX has announced the pricing of its initial public offering (IPO) of 19 million Class A common shares at a price of US$19.00 per share. The IPO includes 13.87 million shares from VTEX and 5.12 million shares from selling shareholders, with underwriters having an option for an additional 2.85 million shares. Trading on the New York Stock Exchange under the ticker symbol VTEX is set to begin on July 21, 2021, and the offering is expected to close on July 23, 2021. Major banks involved include J.P. Morgan and Goldman Sachs.

Positive

• Initial public offering of 19 million shares at US$19.00 per share indicates strong market interest.
• Strategic participation of reputable underwriters like J.P. Morgan and Goldman Sachs enhances credibility.

Negative

• Potential dilution of shares with additional options available for underwriters.

NEW YORK, July 20, 2021 /PRNewswire/ -- VTEX, a software-as-a-service digital commerce platform provider for enterprise brands and retailers, the leader in accelerating the digital commerce transformation in Latin America and expanding globally, today announced the pricing of its initial public offering of 19,000,000 Class A common shares at a public offering price of US$19.00 per share. The offering consisted of 13,876,702 Class A common shares offered by VTEX and 5,123,298 Class A common shares offered by VTEX's selling shareholders. The underwriters have the option to purchase up to an additional 2,850,000 Class A common shares from VTEX at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange on July 21, 2021, under the ticker symbol "VTEX", and the offering is expected to close on July 23, 2021, subject to customary closing conditions.

J.P. Morgan, Goldman Sachs & Co. LLC and BofA Securities are acting as global coordinators for the proposed offering. KeyBanc Capital Markets, Morgan Stanley and Itaú BBA are acting as joint bookrunners for the proposed offering.

A registration statement relating to this offering has been filed with and declared effective by the Securities and Exchange Commission on July 20, 2021. Copies of the registration statement can be accessed through the Securities and Exchange Commission's website at www.sec.gov.

The offering of these securities is being made only by means of a written prospectus forming part of the effective registration statement, copies of which may be obtained from any of the following sources:

• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, 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 email at prospectus-ny@ny.email.gs.com; or
• BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About VTEX
VTEX provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and functionality, and we are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries to connect with their consumers in a meaningful way.

Investor Contact
Julia Vater Fernández
Investor Relations Director
investors@vtex.com

Media Contact

Edelman for VTEX
LATAM
Regina Carapeto
regina.carapeto@edelman.com
+55 11 97217-2031

US
Julia Fisher
Julia.Fisher@edelman.com
+1 646 301 2968

View original content to download multimedia:https://www.prnewswire.com/news-releases/vtex-announces-pricing-of-initial-public-offering-301338043.html

SOURCE VTEX

FAQ

What are the details of VTEX's upcoming IPO?

VTEX is offering 19 million Class A common shares at US$19.00 each, with 13.87 million shares from the company and 5.12 million shares from selling shareholders.

When will VTEX start trading publicly?

VTEX shares are expected to begin trading on the New York Stock Exchange on July 21, 2021.

Who are the underwriters for VTEX's IPO?

The underwriters for VTEX's IPO include J.P. Morgan, Goldman Sachs, and BofA Securities.

What is the ticker symbol for VTEX's publicly traded shares?

The ticker symbol for VTEX's shares is 'VTEX'.

When is the expected close date for the VTEX IPO?

The expected close date for the VTEX IPO is July 23, 2021.