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MONTEVIDEO - dLocal Limited (NASDAQ:DLO) announced Friday the completion of a secondary offering of 17.25 million Class A common shares by an entity associated with General Atlantic at $12.75 per share. The stock, which has seen a 38% surge over the past six months despite an 11% decline in the past week, currently trades near $13.40.
The offering included the full exercise of the underwriters’ option to purchase an additional 2.25 million shares. dLocal will not receive any proceeds from the transaction as it did not sell any shares in the offering.
The underwriting group was led by J.P. Morgan, Goldman Sachs & Co. LLC, and Morgan Stanley as global coordinators and joint bookrunners, with BTG Pactual and Citigroup acting as joint bookrunners.
The offering was conducted through an automatically effective shelf registration statement previously filed with the Securities and Exchange Commission.
dLocal, a technology-focused payments platform, enables global merchants to connect with consumers in emerging markets across Africa, Asia, and Latin America through its One dLocal platform. The company’s system allows businesses to accept payments, send payouts, and settle funds globally through a single API, platform, and contract.
The information in this article is based on a press release statement from dLocal Limited.
In other recent news, DLocal Limited reported impressive second-quarter results, surpassing analyst expectations. The company achieved adjusted earnings of $0.14 per share, exceeding the projected $0.13. Revenue for the quarter rose by 50% year-over-year to $256.5 million, outperforming the consensus estimate of $232.16 million. Total Payment Volume reached a record $9.2 billion, marking a 53% increase compared to the previous year. In a separate development, an entity associated with General Atlantic announced a secondary offering of 15 million Class A common shares at $12.75 each. DLocal will not be selling any shares or receiving proceeds from this transaction. The underwriters have been granted a 30-day option to purchase an additional 2.25 million shares from the selling shareholder. These recent developments highlight significant financial activity surrounding DLocal Limited.
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