Vitru’s $96 Million Initial Public Offering

Davis Polk advised Vitru Limited in the transaction.

Vitru Limited executed its initial public offering of an aggregate of 6,000,000 common shares of Vitru at a price per common share of $16. The initial public offering raised gross proceeds of $96 million. The common shares are listed on the Nasdaq Global Select Market under the symbol “VTRU.”

Vitru’s mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own success story. It provides a complete pedagogical ecosystem focused on a hybrid digital education experience for undergraduates and continuing education.

The Davis Polk capital markets team advising Vitru included Manuel Garciadiaz (Picture), Konstantinos Papadopoulos and Lourenco Lopes-Sabino. The tax team included Mario J. Verdolini and Tomislava Dragicevic. Sijia Cai provided 1940 Act advice.

Involved fees earner: Sijia Cai – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Lourenço Lopes-Sabino – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Vitru;

Author: Ambrogio Visconti.