Shearman & Sterling advised PagSeguro Digital Ltd. on its follow-on offering of 37,950,000 Class A common shares, listed on the New York Stock Exchange. PagSeguro Digital Ltd. controls PagSeguro Internet S.A., a provider of financial technology solutions in Brazil focused primarily on micro-merchants, small companies and medium-sized companies.
The offering closed on June 26, 2018 and generated aggregate gross proceeds of approximately $1.1 billion, consisting of a primary offering of $337.8 million by PagSeguro Digital Ltd. and a secondary offering of $772.2 million by selling shareholder Universo Online S.A., or UOL, Brazil’s largest internet content, digital products and services company. The deal priced at $29.25, and the underwriters’ overallotment option was exercised in full at closing.
Goldman Sachs & Co. LLC and Morgan Stanley acted as global coordinators of the offering.
The Shearman & Sterling team below was supported by international associates Diana Balassiano (New York-Capital Markets) and William Kim (New York-Capital Markets).