Arco Platform Limited Announces Pricing of Public Offering of Class A Common Shares
Arco Platform Limited - Class A Common Shares (ARCE)
Last arco platform limited - class a common shares earnings: 5/21 04:05 pm
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Source: GlobeNewswire
SÃO PAULO, Brazil, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (Nasdaq: ARCE), announced today that it priced an underwritten public offering of 7,719,503 Class A common shares at a public offering price of US$43.00, consisting of 4,268,847 Class A common shares offered by certain selling shareholders of Arco (the “Selling Shareholders”), including General Atlantic Arco (Bermuda), L.P. (“GA”), and 3,450,656 Class A common shares offered by Arco. In addition, GA has granted the underwriters a 30-day option to purchase up to 1,157,925 additional Class A common shares at the public offering price, less underwriting discounts and commissions. Arco will not receive any proceeds from the sale of Class A common shares by the Selling Shareholders. The offering is expected to close on or about October 29, 2019, subject to customary closing conditions. Goldman Sachs & Co. LLC, Morgan Stanley, Itau BBA USA Securities, Inc., BTG Pactual and BofA Securities are acting as
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