VTEX’s $415.2 Million Initial Public Offering

Simpson Thacher and Lefosse advised VTEX on the deal. Davis Polk & Wardwell and Pinheiro Neto advised JP Morgan Securities LLC, Goldman, Sachs & Co.; BofA Securities, Inc.; KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc., acting as underwriters on the offering.

VTEX completed its initial public offering and single listing on the NYSE. The primary and secondary offering, which comprised 21,850,000 class A common shares (“Shares”), including 2,850,000 Shares relating to the exercise of the overallotment option, raised a total of US$415.2 million in gross proceeds. VTEX shares began trading on the NYSE on June 22, 2021 under the ticker symbol “VTEX.”

J.P. Morgan Securities LLC, Goldman, Sachs & Co. and BofA Securities, Inc. acted as global coordinators and KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc. acted as joint bookrunners for the offering.

Founded in Brazil, VTEX is a leading software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables over 2,000 customers across 32 countries to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. VTEX’s Shares are listed under the trading symbol of “VTEX.”

The Simpson Thacher team was led by Grenfel S. Calheiros (Picture) and S. Todd Crider, and included Paulo F. Cardoso, Siddharth Fresa and Alexandre Portnoi (Capital Markets – São Paulo and New York); and Jonathan E. Cantor and Suzy Yaster (Tax – New York).

In Brazil, Lefosse advised VTEX with Rodrigo Junqueira, Jana Araújo, Vicente Gioielli and Leonardo Gaspar.

Davis Polk & Wardwell advised JP Morgan Securities LLC, Goldman, Sachs & Co.; BofA Securities, Inc.; KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc. with Byron B. Rooney, Kiara L. Rankin, Marcie A. Goldstein, Shay Moyal, Yana Kipnis and Konstantinos Papadopoulos.

In Brazil, Pinheiro Neto advised JP Morgan Securities LLC, Goldman, Sachs & Co.; BofA Securities, Inc.; KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc. with Guilherme Sampaio Monteiro, Carlos Henrique Bechara, Cristina Liu, Renata Gaspar Barbosa Correa and Felipe de Santi Arrebola.

Involved fees earner: Marcie Goldstein – Davis Polk & Wardwell; Yana Kipnis – Davis Polk & Wardwell; Shay Moyal – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Kiara Rankin – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Jana Araujo – Lefosse; Rodrigo Junqueira – Lefosse; Leonardo Gaspar – Lefosse; Vicente Gioielli – Lefosse; Renata Gaspar Barbosa Correa – Pinheiro Neto; Cristina Liu – Pinheiro Neto; Guilherme Sampaio Monteiro – Pinheiro Neto; Carlos Henrique Tranjan Bechara – Pinheiro Neto; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Todd Crider – Simpson Thacher & Bartlett; Paulo Fernando de Menezes Cardoso – Simpson Thacher & Bartlett; Siddharth Fresa – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Lefosse; Pinheiro Neto; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Goldman Sachs & Co.; Itaú BBA USA Securities; JP Morgan Securities; KeyBanc Capital Markets; Morgan Stanley; VTEX;