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July 21, 2021, 6:17 a.m. EDT

VTEX valued at over $3.5 billion as IPO prices above the expected range

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By Tomi Kilgore

VTEX is headed for its public debut Wednesday, as the U.K.-based software company that helps retailers build e-commerce businesses raised $263.66 million as its initial public offering priced at $19 a share, above the expected pricing range of between $15 and $17 a share. The company sold 13.88 million Class A shares in the IPO, and selling shareholders sold 5.12 million shares to raise $97.34 million. With a total of 187.26 million Class A and Class B shares outstanding after the IPO, the pricing values the company at $3.56 billion. The stock is scheduled to start trading on the NYSE under the ticker symbol "VTEX." J.P. Morgan, Goldman Sachs and BofA Securities were the lead underwriters. The company recorded a net loss of $12.5 million on revenue of $25.9 million in the three months ended March 31, after a loss of $5.2 million on revenue of $16.6 million in the same period a year ago. The company is going public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.41% has eased 0.3% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.15% has gained 3.6%.

/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 69.00
-0.99 -1.41%
Volume: 154,770
Sept. 24, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,455.48
+6.50 +0.15%
Volume: 1.69B
Sept. 24, 2021 5:05p
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