2bcapital-backed WDC Networks (Livetech da Bahia Indústria e Comércio S.A.), a Brazilian distributor of information technology, telecommunication and solar energy solutions, raised BRL450.1m via IPO on the B3.
(Press Release) – LIVETECH DA BAHIA INDÚSTRIA E COMÉRCIO S.A. (the “Company” or “WDC Networks”), in accordance with Law 6,404/76 (the “Brazilian Corporate Law”) and the Brazilian Securities Commission (Comissão de Valores Mobiliários, or the “CVM”) Instruction No. 358, dated January 3, 2002, as amended, and in furtherance of the information disclosed on July 12, 2021 and on July 21, 2021, hereby informs the market in general that in connection with its restricted offering of 19,400,000 common shares (the “Common Shares” and “Restricted Offering,” respectively), the board of directors of WDC Networks approved on this date a price per Common Share of R$23.20, resulting in a total offering amount of R$450.1 million, of which approximately R$225.0 will be used to effect a capital increase within the limits of WDC Networks’ authorized capital and approximately R$225.0 will be allocated as capital reserve.
WDC Networks has granted to a financial institution acting as stabilizing agent an option to place up to an aggregate of 15% of the Common Shares initially offered, representing an increase of up to 2,910,000 Common Shares (the “Over-Allotment Option”), which will be sold by WDC Networks at the offering price.
In accordance with Article 9-A, item II, of CVM Instruction No. 476, the Restricted Offering would be subject to a priority offering in Brazil pursuant to which WDC Networks’ existing shareholders would have the right to reserve for purchase an aggregate of up to 100.0% of the Common Shares, based on each shareholder’s proportional interest in WDC Networks’ share capital. However, WDC Networks’ extraordinary shareholders’ meeting resolved that its existing shareholders would not have a preemptive right to subscribe for any common shares offered by us in the Restricted Offering. Accordingly, pursuant to article 172, item I, of the Brazilian Corporate Law and a
