Vasta Platform Limited, a digital K-12 education provider in Brazil, has filed Form F-1 Registration Statement on July 6, 2020 with the U.S. Securities and Exchange Commission to raise up to $100 million in an IPO. Pricing terms are yet to announce.
The company has developed a "Platform as a Service" with two main modules: its Content & EdTech Platform, an array of core and complementary education solutions with digital and printed content through long-term contracts with partner schools, and its Digital Platform, which unifies its partner schools' administrative ecosystems.
The São Paulo, Brazil-based company was founded in 1966 and booked $193 million in revenue for the 12 months ended March 31, 2020. As of March 31, 2020, its network of B2B customers consisted of 4,167 partner schools, up from 3,400 as of December 31, 2019.
The company plans to list on the Nasdaq Global Market and yet to select a ticker. Goldman Sachs, BofA Securities, Morgan Stanley, Itau BBA, UBS Investment Bank, and Bradesco BBI are underwriters of the IPO.
The company engages Davis Polk & Wardwell LLP as US Securities Counsel, and KPMG as Independent Auditor.
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