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Brazil Communication Platform Provider ZENVIA Decrease Proposed IPO Size to $162 Million

Esther Thin

Zenvia Inc, a communication platform provider in Brazil, has filed Amendment No 6 to Form F-1 Registration Statement on June 13, 2021 with the U.S. Securities and Exchange Commission to decrease the proposed IPO size to $162 million, previously filed to raised $213 million.

The company now plans to raise $162 million by offering 11.5 million shares at the price range of $13 to $15. The company previously planned to raise $213 million by offering 12.9 million shares at a price range of $15.50 to $17.50. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $548 million.

The company’s platform assists customers in several use cases, including marketing campaigns, customer acquisition, customer information nutrition, customer onboarding actions, warnings, customer services with or without automation, fraud control, cross-selling and customer retention.

The São Paulo, Brazil-based company was founded in 2004 and booked $76 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq Capital Market under the symbol “ZENV.” Goldman Sachs, Morgan Stanley, Itau BBA, UBS Investment Bank, Bradesco BBI and XP Investimentos are underwriters of the IPO.

The company engages Simpson Thacher & Bartlett LLP as US Securities Counsel, and KPMG as Independent Auditor.

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