Vitru Limited Announces Pricing of Initial Public Offering
Vitru Limited has priced its initial public offering of 6,000,000 common shares at $16.00 per share, set to trade on Nasdaq under the symbol VTRU. The offering closes on September 22, 2020. Additionally, underwriters have a 30-day option to purchase up to 900,000 additional shares at the IPO price. The offering involves multiple financial institutions as global coordinators and bookrunners. The SEC has declared the registration statement effective, enabling the sale of these securities.
- Pricing of 6,000,000 shares at $16.00 indicates strong market interest.
- Underwriters have an option for an additional 900,000 shares, suggesting further confidence in demand.
- Potential shareholder dilution due to the underwriters' option for additional shares.
FLORIANÓPOLIS, Brazil, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Vitru Limited (“Vitru”), a Brazilian distance learning education group company, today announced the pricing of its initial public offering of 6,000,000 of its newly-issued common shares 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
In connection with the offering, Vitru has granted the underwriters a 30-day option to purchase up to an additional 900,000 common shares at the initial public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, BofA Securities, Itau BBA USA Securities, Inc. and Morgan Stanley are acting as Global Coordinators in this offering, and Goldman Sachs & Co. LLC, BofA Securities, Itau BBA USA Securities, Inc., Morgan Stanley, 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 offering 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, 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, 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, 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.
Contact: Investor Relations Department
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