Linx S.A.’s $208 Million Initial Public Offering

Pinheiro Neto and White & Case advised Linx SA. Simpson Thacher represented Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Jefferies LLC, BofA Securities Inc. and Itau BBA USA Securities Inc. in connection with the SEC-registered initial public offering and NYSE listing of American depositary shares by Linx S.A. White & Case LLP represented Linx S.A. on the deal.

The transaction consisted in a global offering of 32,774,601 common shares, including in the form of American depositary shares, of Linx S.A., which comprised an international offering in the United States and other countries outside of Brazil and a concurrent offering in Brazil. The transaction raised approximately US$208 million to the Company and approximately US$38 million to BNDES Participações S.A., as selling shareholder. The offering closed on June 27, 2019. The American depositary shares of Linx S.A. are now traded on the NYSE under the symbol “LINX.”

Linx S.A. is a leading cloud-based technology company in Latin America and a market leader in Brazil in terms of revenue, focused on developing and providing affordable, easy-to-use, reliable and seamlessly integrated software solutions to retailers in Latin America, through a software-as-a-service business model.

Linx was advised in Brazil by Pinheiro Neto Advogados, with a team led by partners Henry Sztutman and Guilherme Monteiro, and in the US by White & Case, with a team led by partners Donald E. Baker and John P. Guzman.

The Simpson Thacher team was led by Partner Grenfel S. Calheiros (Picture) and included Paulo Fernando Cardoso and Winnie Loureiro (Capital Markets – São Paulo) and International Associate Beatriz Cotrim (Capital Markets – New York); and Jonathan Cantor and Abigail Hopper (Tax – New York).

In Brazil, Pinheiro Guimarães, advised the underwriters with a team led by partner Cristina Tomiyama, along with associates Fernando Friedmann, Luiza Furtado and Paula Rodrigues

Involved fees earner: Fernando John Friedmann Junior – Pinheiro Guimarães; Luiza Furtado – Pinheiro Guimarães; Cristina Tomiyama – Pinheiro Guimarães; Guilherme Sampaio Monteiro – Pinheiro Neto; Henry Sztutman – Pinheiro Neto; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Beatriz Cotrim – Simpson Thacher & Bartlett; Paulo Fernando de Menezes Cardoso – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Winnie Loureiro – Simpson Thacher & Bartlett; Donald Baker – White & Case; John Guzman – White & Case;

Law Firms: Pinheiro Guimarães; Pinheiro Neto; Simpson Thacher & Bartlett; White & Case;

Clients: Bank of America Merrill Lynch; Goldman Sachs & Co.; Itaú BBA USA Securities; Jefferies; Linx S.A.; Morgan Stanley;

Author: Ambrogio Visconti.