Vitru Limited (NASDAQ:VTRU) (“Vitru“) today announced the settlement of its previously announced rights offering (the “Rights Offering“). The Rights Offering resulted in the issuance of 926,206 common shares of Vitru (which, upon issuance, amount to approximately 2.8% of Vitru’s outstanding common shares) and raised gross proceeds of approximately U.S.$14.8 million.
As a result of the Rights Offering and Crescera’s investment pursuant to the Investment Agreement, Vitru issued a total of 4,562,569 common shares (which, upon issuance, amount to approximately 13.6% of Vitru’s outstanding common shares) and raised aggregate gross proceeds of approximately U.S.$73.1 million.
Pursuant to the Rights Offering, Vitru distributed nontransferable subscription rights to each holder of its common shares as of 5:00 p.m., Eastern Time, on October 21, 2022. The subscription rights were exercisable at any time during the subscription period, which commenced on October 24, 2022, and ended at 5:00 p.m., Eastern Time, on November 17, 2022. The unexercised subscription rights have now expired and have no value.
A prospectus supplement relating to the Rights Offering was filed with the Securities and Exchange Commission (the “SEC“) on October 24, 2022 and was made available on the website of the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
