Vitru Limited Announces Launch of Initial Public Offering
Vitru Limited has announced its initial public offering (IPO) of 11,230,126 common shares, with 6,000,000 shares offered by the company and 5,230,126 by selling shareholders. The estimated price range is between US$22.00 and US$24.00 per share, and the company intends to list on the Nasdaq under the symbol 'VTRU'. Additionally, underwriters have a 30-day option to purchase up to 1,684,518 shares. The IPO will be conducted via a prospectus, which is pending SEC effectiveness.
- Planned IPO of 11,230,126 shares aims to raise significant capital.
- Intended share price range of US$22.00 to US$24.00 indicates strong investor interest.
- Potential dilution of existing shares with the offering.
- Market uncertainty until the SEC registration statement becomes effective.
FLORIANÓPOLIS, Brazil, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Vitru Limited (“Vitru”), a Brazilian distance learning education group company, today announced that it has launched its initial public offering of 11,230,126 common shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission ("SEC"). Vitru is offering 6,000,000 common shares and certain selling shareholders are offering 5,230,126 common shares. The estimated price range for the offering is US
Goldman Sachs & Co. LLC, BofA Securities, Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC are acting as Global Coordinators in this offering, and Goldman Sachs & Co. LLC, BofA Securities, Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Banco Bradesco BBI S.A., Banco BTG Pactual S.A.—Cayman Branch, Credit Suisse Securities (USA) LLC, Santander Investment Securities Inc. and XP Investments US, LLC are collectively acting as bookrunners of this offering.
The proposed IPO will be made only by means of a prospectus. When available, a copy of the final prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by emailing dg.prospectus_requests@bofa.com; Itaú BBA, 540 Madison Avenue 24th Floor, New York, New York 10022, Attention: Equity Sales Desk, telephone: 1-212-710-6756 or by emailing roadshowdesk@itaubba.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.
A registration statement on Form F-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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.
Contact: Vitru Investor Relations +55 47 3281 9500 Extension 8854
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