PagSeguro Closes $653 Million Follow-On Offering

October 25, 2019

São Paulo – Paul Hastings LLP, a leading global law firm, represented Brazilian fintech company PagSeguro in their SEC-registered follow-on equity offering, which raised more than $653 million. The secondary offering increased the liquidity in PagSeguro’s Class A common shares traded on the New York Stock Exchange. The underwriters have an additional 30-day option to purchase up to 2.5 million shares, which may raise a further $98 million. This offering is believed to be one of the largest equity offerings in Brazil this year, and it comes at a time when as Brazil equity deals have reached a 10-year high.
São Paulo partners David Flechner and Jon Kellner led the Paul Hastings team, which also included of counsel Andrea Campos, and associates Samantha Glover and Diana Balassiano in São Paulo; and partner David Makso and associate Rob Wilson assisted from New York.

Goldman Sachs and Morgan Stanley acted as Global Coordinators, along with Bank of America, Citi and Credit Suisse as Joint Bookrunners in the offering, which closed on October 21, 2019.

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