| Over a week ago | ||||
Arco Platform has… Arco Platform has approved a share repurchase program to comply with management long-term incentive plan obligations. Under the program, Arco may repurchase up to 500,000 of its outstanding Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on January 6th, 2021 continuing until the earlier of the completion of the repurchase or January 6th, 2023, depending upon market conditions. Arco's Board of Directors will review the Repurchase Program periodically and may authorize adjustments to its terms and size or suspend or discontinue the Repurchase Program. Arco expects to utilize its existing funds to fund repurchases made under the Repurchase Program. | ||||
| Over a quarter ago | ||||
Arco Platform announces… Arco Platform announces it has acquired 100% of Studos Software, a technology provider for personalized student assessment, data-based academic performance diagnostics and AI-powered adaptive learning and test prep. Studos was founded in Santa Catarina state in 2013, with the objectives of increasing student performance at university entrance exams and reducing teacher workload. Studos supplies K-12 schools with content and tools that enable teachers to easily create and grade online and offline assessments, reducing assessment-related teacher workload by 80%. Studo's solution also analyses data on student performance and uses AI to provide adaptive learning paths focused on the individual needs of each student. On average, 50% of the 10 first-placed students in Santa Catarina Federal University's entrance exam used Studos for their test prep. | ||||
The deal size was reduced… The deal size was reduced to 2.5M shares of common stock from 5.2M shares of common stock and the range was $44.75-$45.75. Goldman Sachs and Morgan Stanley acted as joint book running managers for the offering. | ||||
Goldman Sachs and Morgan… Goldman Sachs and Morgan Stanley are acting as joint book running managers for the offering. | ||||
Arco Platform Limited… Arco Platform Limited announced the commencement of an underwritten public offering of 5.2M Class A common shares to be issued by Arco. Arco intends to use the net proceeds from this offering to fund future acquisitions or investments in complementary businesses, products or technologies. Goldman Sachs and Morgan Stanley are acting as Global Coordinators in this public offering. | ||||
UBS analyst Vinicius… UBS analyst Vinicius Ribeiro upgraded Arco Platform to Buy from Neutral with a price target of $58, up from $57. | |
Arco Platform announced… Arco Platform announced that it has entered into a definitive agreement to acquire Escola de Inteligencia Cursos Educacionais, the solution in social-emotional learning in Brazil. The payment terms are: 60% of EI's shares valued at R$288 million, with R$200M to be paid at closing and the remaining R$88M in Q2 of 21, and 40% of EI's shares at 6.0-times 2023 ACV, to be paid in 2Q23. The transaction is not subject to any shareholder votes, but is subject to customary closing conditions, including antitrust and other regulatory approvals. | |
Credit Suisse analyst… Credit Suisse analyst Daniel Federle upgraded Arco Platform to Outperform from Neutral with a $55 price target. | |
The deal range was… The deal range was $47.70-$49.00. Goldman Sachs and Itau BBA acted as joint book running managers for the offering. | |
Arco Platform Limited… Arco Platform Limited announced the commencement of an underwritten public offering of 5.56M Class A common shares to be offered by General Atlantic Arco and Alfaco Holding. Arco will not receive any proceeds from the sale of Class A common shares by the selling shareholders. Neither Arco nor any other of its other shareholders, including its founding shareholders and members of management, are selling Class A common shares in this offering. Goldman Sachs and Itau BBA USA Securities are acting as underwriters in this public offering. |