dLocal Announces Launch of Initial Public Offering

Rhea-AI Summary

On May 24, 2021, dLocal announced its initial public offering (IPO) of 29,411,765 Class A common shares. The company is offering 4,411,765 shares, while selling shareholders will offer 25,000,000 shares, priced between $16.00 and $18.00 each. dLocal seeks to list on Nasdaq under the symbol DLO. The underwriting group includes major firms like J.P. Morgan and Goldman Sachs. A 30-day option for underwriters to purchase an additional 4,411,765 shares is also included. The registration statement has been filed but is not yet effective.

Positive

• The IPO aims to raise significant capital for future operations.
• Listing on Nasdaq under the symbol DLO increases visibility and credibility.

Negative

• Potential shareholder dilution from the sale of 25 million shares.
• Dependence on regulatory approval as the registration statement is not yet effective.

SAN FRANCISCO, May 24, 2021 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”), a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, today announced that it has launched its initial public offering of 29,411,765 Class A common shares pursuant to a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”). dLocal is offering 4,411,765 Class A common shares and the selling shareholders are offering 25,000,000 Class A common shares. The estimated price range for the offering is US$16.00 and US$18.00 per Class A common share. dLocal has applied to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “DLO.” In connection with the offering, the selling shareholders expect to grant the underwriters a 30-day option to purchase up to an additional 4,411,765 Class A common shares at the initial public offering price, less underwriting discounts and commissions.

The offering is being made through an underwriting group led by J.P. Morgan, Goldman Sachs & Co. LLC, Citigroup and Morgan Stanley who are acting as global coordinators, and BofA Securities, HSBC and UBS Investment Bank who are acting as joint bookrunners.

A registration statement on Form F-1, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866 803 9204, or by email at prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email to: prospectus@morganstanley.com.

About dLocal
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers in 29 countries across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

Company Contact
Paula Villamarin
Communications Manager
marketing@dlocal.com

Julia Vater Fernández
Head of Investor Relations
investor@dlocal.com

FAQ

What is the share price range for dLocal's IPO?

The estimated price range for dLocal's IPO is between $16.00 and $18.00 per Class A common share.

How many shares is dLocal offering in its IPO?

dLocal is offering 4,411,765 Class A common shares, while selling shareholders are offering 25,000,000 shares.

On which exchange will dLocal be listed?

dLocal will be listed on the Nasdaq Global Select Market under the ticker symbol 'DLO.'

Who is leading the underwriting group for dLocal's IPO?

The underwriting group is led by J.P. Morgan, Goldman Sachs & Co. LLC, Citigroup, and Morgan Stanley.

What is the purpose of dLocal's IPO?

The IPO aims to raise capital for expansion and to enhance the company's market position.