September 24, 2021
Brazilian software company Totvs said it earned BRL1.44 billion ($273 million) in a follow-on offering after pricing the deal below market rates at BRL36.75 per share.
The São Paulo-based company issued 39.3 million shares in the restricted offering, but it chose not to exercise the over-allotment option that would have increased the size of the deal by 65%, or 25.5 million shares, it said in a securities filing on Wednesday.
The share sale increased the company's capital stock to BRL2.96 billi
Brazilian software company raises $273 mln for acquisitions but decides not to exercise an over-allotment option