Dragoneer and General Atlantic will beneficially own approximately 5.6% and 2.8%, respectively, of the total shares of the Company (on an as-converted basis for the convertible senior notes). The conversion price represents an approximately 65% premium to the trailing 30-day volume-weighted share price. (“General Atlantic”), which has committed to make a US$50 million strategic investment, through the purchase of convertible senior notes, subject to customary closing conditions.Įach note will be convertible at the option of the holder into Arco’s Class A common shares at the agreed conversion rate, which is equivalent to an initial conversion price of US$29 per share.
SÃO PAULO, Brazil-( BUSINESS WIRE)- Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it has entered into agreements led by affiliates of Dragoneer Investment Group LLC (“Dragoneer”), which have committed to make a US$100 million strategic investment, and General Atlantic Partners (Bermuda) J, L.P.
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