Business

Brazil-based customer experience startup Zenvia expects to raise $162 million on its US IPO relaunch

São Paulo-based Zenvia originally planned to do its IPO in May, but it decided to postpone its offering due to the market conditions

Cassio Bobsin is the CEO & Founder at Zenvia. Photo: Courtesy/Zenvia

LABS

14.Jul.2021 15:26 BRT
UPDATED 16:28 BRT

Brazil’s Zenvia, a customer experience communications platform, announced the relaunch of its Nasdaq IPO of 11,538,461 Class A common shares.

The startup plans to raise $162 million, pricing its shares at $13 to $15. São Paulo-based Zenvia originally planned to do its IPO in May, but it decided to postpone its offering due to the market conditions.

Zenvia also intends to grant the underwriters a 30-day option to purchase up to an additional 1,730,769 Class A common shares.

The startup intends to list its Class A common shares on the Nasdaq Capital Market under the ticker symbol “ZENV.”

Concurrently with and contingent upon the completion of the offering resulting in gross proceeds of at least $150 million, Twilio has agreed to purchase $50 million in additional Class A common shares to be issued by Zenvia.

The Brazilian startup intends to use part of the net proceeds and the concurrent private placement to pay the consideration payable in cash to acquire D1, and any remaining proceeds for general corporate purposes.

Goldman Sachs, Morgan Stanley, Banco Bradesco BBI, Itau BBA, USA Securities, and UBS Securities are acting as global coordinators for the proposed Offering. XP is acting as joint bookrunner for the proposed offering.