Zenvia’s $150 Million Initial Public Offering

Simpson Thacher advised Zenvia Inc., while Davis Polk advised the underwriters in the offering.

Zenvia Inc.has completed its initial public offering and single listing on the Nasdaq. The offering, which comprised 11,538,462 Class A common shares (“Shares”), raised a total of US$150 million in gross proceeds to Zenvia. Zenvia’s Shares began trading on the Nasdaq on June 22, 2021 under the ticker symbol “ZENV.”

Goldman Sachs & Co. LLC. Morgan Stanley & Co. LLC, Banco Bradesco BBI S.A., Itau BBA USA Securities, Inc. and UBS Securities LLC acted as global coordinators and XP Investments US, LLC acted as joint bookrunner for the offering.

Zenvia’s IPO is concurrent with a private placement exempt from registration under the Securities Act of 1933, as amended, whereby Twilio Inc. agreed to purchase 3,846,153 Class A common shares from Zenvia (amounting to US$50 million in gross proceeds) and that is expected to be consummated shortly after the closing of the IPO. The Firm also represented Zenvia in this private placement.

Zenvia empowers companies to transform their existing customer communications from non-scalable, physical and impersonal interactions into highly scalable, digital first and hyper contextualized experiences across the customer journey. Zenvia’s customer experience communications platform enables companies to digitally interact with their end-consumers in a personalized and highly-contextualized fashion across their entire lifecycle.

The Simpson Thacher team was led by partner Grenfel S. Calheiros (Picture) and counsel Paulo Fernando Cardoso, and included Winnie Y. Loureiro (Capital Markets – São Paulo); and Andrew B. Purcell and Eli A. Shalam (Tax – New York).

The Davis Polk corporate team included partner Manuel Garciadiaz, counsel Konstantinos Papadopoulos and associate Cesar Fischer. Partner Adam Kaminsky provided executive compensation advice. The tax team included partner Mario J. Verdolini and associate Bradford Sherman. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Cesar Fischer – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Adam Kaminsky – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Bradford Sherman – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Grenfel Calheiros – Simpson Thacher & Bartlett; Paulo Fernando de Menezes Cardoso – Simpson Thacher & Bartlett; Winnie Loureiro – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Banco Bradesco BBI S.A.; Goldman Sachs & Co.; Itaú BBA USA Securities; Morgan Stanley; UBS Securities LLC; XP Investments; Zenvia Mobile Servicos Digitais S.A.;