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Vitru Limited (Nasdaq: VTRU) has initiated its rights offering, distributing nontransferable subscription rights to its common shareholders as of October 21, 2022. Shareholders can exercise their rights from October 24 to November 17, 2022, at a price of U.S.$16.02 per share. If fully subscribed, the offering could yield approximately U.S.$32.2 million, which Vitru plans to use to repay part of its Series 1 and Series 2 Debentures, with the remainder allocated for general corporate purposes. Notably, some significant shareholders have opted not to participate in the offering.
Vitru Limited (Nasdaq: VTRU) announced a record date of October 21, 2022, for a proposed rights offering, allowing shareholders to subscribe to common shares. The final terms are subject to change and will be detailed in a prospectus supplement. This offering is part of Vitru's effective shelf registration statement filed on October 25, 2021. The announcement serves as a reminder that no offer to sell or invite to purchase shares will occur outside compliance with applicable laws.
Vitru provides a hybrid distance learning ecosystem in Brazil's postsecondary education sector.
On September 27, 2022, Vitru Limited (VTRU) announced an investment agreement with Crescera, which will see Crescera subscribe for approximately 3.6 million new common shares for R$300 million (around US$56 million). This investment will represent about 10.6% of Vitru's outstanding shares. The funds will primarily be used for debt repayment. Vitru also plans a rights offering to allow existing shareholders to subscribe for new shares at the same price as Crescera's investment. The offering is expected to raise between R$100 million and R$125 million ($19-$23 million). The investment is pending customary closing conditions.
Vitru Limited (Nasdaq: VTRU) has acquired Rede Enem, a platform aimed at enhancing the academic performance of secondary education students in Brazil, particularly those from public schools. The acquisition, valued at R$3 million, includes an initial cash payment of R$1.5 million and a potential earn-out of R$1.5 million based on performance metrics. With 24.2 million views on its main domains in 2021, Rede Enem is a significant player in the online education sector, aligning with Vitru's mission to democratize education access in Brazil.
Vitru Limited (Nasdaq: VTRU) will announce its second quarter 2022 financial results on August 25, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern time, accessible through registration. Vitru is a leading provider in the Brazilian distance learning market, focusing on a hybrid educational ecosystem aimed at democratizing access to education. The company emphasizes its commitment to helping every student succeed through innovative digital solutions.
Vitru Limited (Nasdaq: VTRU) announces that Unicesumar has received the 2022 Blackboard Catalyst Award in the Community Engagement category, an accolade recognizing excellence in education. The award acknowledges institutions employing innovative strategies to enhance student connections and performance, highlighting Unicesumar's 'Science of Happiness' course. This initiative aims to empower individuals and elevate community engagement. Vitru positions itself as a leader in Brazil’s distance education, striving to democratize educational access through an integrated digital ecosystem.
Vitru Limited (Nasdaq: VTRU) reported a 28.6% increase in its digital education undergraduate intake cycle for Uniasselvi, equating to 223.9 thousand new students for 2022. This growth occurred despite a high comparison base from the previous year. Additionally, Unicesumar saw an even higher growth of 54.6%, reaching 219.7 thousand new students. The results reaffirm Vitru's hybrid model's resilience, with the CFO indicating that outcomes were consistent with earlier expectations.
Vitru Limited (Nasdaq: VTRU) has successfully completed its business combination with Unicesumar, valued at R$3.15 billion. The deal consists of 62.9% cash payment, 19.4% via issuance of 7,182,385 new common shares, and 17.7% cash to be paid 12 months post-closing, adjusted for inflation. Additional payments include earn-outs for medical seats and performance, as well as a R$180 million non-compete agreement with former shareholders. Vitru aims to integrate Unicesumar's operations and expects to realize synergies from this consolidation.
Vitru (Nasdaq: VTRU) has received final antitrust approval for its business combination with CESUMAR (Unicesumar). This follows a recommendation from Brazil's antitrust authority, CADE, announced on April 29, 2022, and finalized on May 17, 2022. The closing of this transaction is expected on May 20, 2022, allowing Vitru to integrate Unicesumar into its operations. A conference call to discuss the integration process will be held on May 19, 2022. Vitru aims to enhance educational access in Brazil through this merger.
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