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Simpson Thacher & Bartlett Real-Time E-News
Simpson Thacher Represents Underwriters in US$353 Million Registered IPO of Vasta
The Firm represented the underwriters, led by global coordinators Goldman Sachs & Co. LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc., in the initial public offering by Vasta Platform Limited (“Vasta”) of Class A common shares at a price to the public of US$19.00 per share, raising approximately US$353 million in gross proceeds. Vasta’s Class A common shares are listed on the Nasdaq Global Select Market under the ticker symbol “VSTA.”
Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, with a business-to-business network consisting of 3,400 partner schools serving over 1.3 million students in Brazil.
In February 2020, the Firm also assisted the placement agents, in connection with the R$2.55 billion Brazilian stock exchange (B3) follow-on offering, under Rule 144A and Regulation S, of Vasta’s parent company, Cogna Educação S.A., the largest private educational company in Brazil.
The Simpson Thacher team was led by Grenfel S. Calheiros and included Paulo F. Cardoso and Siddharth Fresa (Capital Markets); Jennie Getsin (FINRA and Blue Sky); and Jonathan Cantor, Caroline W. Phillips and Suzy Yaster (Tax).
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