RIO DE JANEIRO, BRAZIL – Zenvia has priced its initial offering (IPO) on Nasdaq at US$13 per share, at the bottom of the indicative range, which was up to US$15.
Demand was around four times oversubscribed, according to a source. The company raised US$150 million with investors in the initial public offering and thereby secures another US$50 million in a private placement.
American Twilio is the anchor, but had conditioned its contribution to the execution of the offering with the minimum amount defined by the range floor. This way, Zenvia raises US$200 million.
Founded by Rio Grande do Sul entrepreneur Cássio Bobsin and with the Oria management company as one of its largest investors before the IPO – after the listing they continue to hold greater voting power – Zenvia is a business-to-consumer communication technology company. It develops automated or customized messaging, voice and video contact solutions.
Its new shareholder Twilio, an Amazon investee, has similar operations in the American market.
The company launched the offering in May but suspended it due to market volatility, and last week revamped it by reducing the price range, reducing the number of shares for sale and tying the public offering with a private placement.
Source: Valor