Afya Limited’s $341.7 Million Follow-On Offering

Davis Polk advised Afya Limited on its offering.

Afya Limited closed its follow-on public offering of 12,426,740 Class A common shares at a public offering price of $27.50 per share. Afya issued and sold 3,019,928 Class A common shares, and certain selling shareholders of Afya, including Crescera Educacional II Fundo de Investimento em Participações Multiestratégia, sold 9,406,812 Class A common shares, pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”).

BofA Securities, UBS Securities LLC, Goldman Sachs & Co. LLC and Itau BBA USA Securities, Inc. acted as Global Coordinators in this public offering, and BofA Securities, UBS Securities LLC, Goldman Sachs & Co. LLC, Itau BBA USA Securities, Inc., Banco BTG Pactual S.A. – Cayman Branch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC collectively acted as Bookrunners in the offering.

Based in Minas Gerais, Brazil, Afya is a leading medical education group in Brazil based on number of medical school seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students to be lifelong medical learners.

The Davis Polk capital markets team included Manuel Garciadiaz (Picture), Konstantinos Papadopoulos and Hugo Casella. The tax team included Alon Gurfinkel and Summer Xia. Matthew R. Silver provided 1940 Act advice.

Involved fees earner: Hugo Casella – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Matthew Silver – Davis Polk & Wardwell; Summer Xia – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Afya Limited;