Arco Platform Limited Announces Closing of its Initial Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares

NEW YORK, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it closed its initial public offering of 12,777,777 Class A common shares at a public offering price of US$17.50 per share, which includes the full exercise of the underwriters' option to purchase 1,666,666 additional Class A common shares. Arco estimates the net proceeds from the offering to be approximately US$210.2 million, after deducting underwriting discounts and commissions.  The Class A common shares began trading on the Nasdaq Global Select Market on September 26, 2018 under the symbol "ARCE."

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Itau BBA USA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as Global Coordinators and as representatives of the underwriters in this initial public offering and Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Itau BBA USA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Allen & Company LLC, Banco BTG Pactual S.A.?Cayman Branch and UBS Securities LLC collectively acted as underwriters in this initial public offering.

Copies of the final prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Itau BBA USA Securities, Inc., 767 Fifth Avenue 50th Floor, New York, New York 10153, Attention: Equity Sales Desk, telephone: 1-212-710-6756 or by emailing [email protected]; and BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department or by emailing [email protected].

A registration statement relating to these securities was filed with, and declared effective by, the United States Securities and Exchange Commission ("SEC").  Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.  This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Arco:

Arco's mission is to transform the way students learn by delivering high-quality education at scale through technology to private primary and secondary schools. It provides educational content in printed and digital formats through its platform.

Arco delivers high-quality education to private primary and secondary schools through a complete pedagogical system to enhance students' learning experiences. Its educational platform solutions comprise core K-12 curricula, as well as supplemental instructional content currently focused on English as a second language.

Arco provides a complete suite of turnkey curriculum solutions and technology-enabled features to help its students, teachers, partner schools and parents. It targets the students' educational success by offering online student assessments, an app for school-parent communications, adaptive learning, a teachers training program and management tools.

Contacts:

Investor Relations:

Arco Platform Limited
Vitor Hiraiwa, +55 (11) 99400-2105
[email protected]