DLocal Announces 15M Share Secondary Offering By General Atlantic; No Proceeds To Company
Benzinga Newsdesk 1 year ago
NewsOfferings
DLocal Limited ("dLocal" or the "Company"), (NASDAQ:DLO) a technology-first payments platform, today announced the commencement of an underwritten registered secondary offering of 15,000,000 Class A common shares by an
DLocal Limited ("dLocal" or the "Company"), (NASDAQ:DLO) a technology-first payments platform, today announced the commencement of an underwritten registered secondary offering of 15,000,000 Class A common shares by an entity associated with General Atlantic (the "Selling Shareholder"). The Company is not selling any Class A common shares in the offering and will not receive any proceeds from the offering.
In connection with the offering, the Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 Class A common shares at the public offering price, less underwriting discounts and commissions.
The offering is being made through an underwriting group led by J.P. Morgan, Goldman Sachs & Co. LLC and Morgan Stanley, who are acting as global coordinators and joint bookrunners and BTG Pactual and Citigroup who are acting as joint bookrunners.