Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), ("Nu"), one of the world's largest digital banking platforms and one of the leading technology companies in the world, today announced the pricing of its initial public offering, consisting of an international offering of 289,150,555 Class A ordinary shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission ("SEC") at a public offering price of $9.00 per Class A ordinary share, and a concurrent offering in Brazil of Class A ordinary shares in the form of Brazilian depositary receipts ("BDRs") registered with the Brazilian Securities Commission ("CVM"), each BDR representing 1/6 th of a Class A ordinary share, at a public offering price of R$8.36 per BDR, based on the December 8, 2021 exchange rate of R$5,579 to US$1.00 published by the Central Bank of Brazil (together, the "global offering"). The number of Class A ordinary shares to be sold in the international offering may be reduced by a portion of the Class A ordinary shares that are initially being offered in the form of BDRs in the concurrent Brazilian offering.
In connection with the international offering, Nu has granted a 30-day option to purchase up to an additional 28,571,429 Class A ordinary shares at the initial public offering price, less underwriting discounts and commissions.
The Class A ordinary shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "NU" on December 9, 2021 and the BDRs are expected to begin trading on the São Paulo Stock Exchange (B3) under the ticker symbol "NUBR33" on December 9, 2021 and the global offering is expected to close on December 10, 2021, subject to customary closing conditions.
Nu intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, and capital expenditures. Additionally, Nu may use a portion of the net proceeds to acquire or invest in businesses, products, services, or technologies.
The offering is being made through an underwriting group led by Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Nu Invest Corretora de Valores S.A..
The offering will be made only by means of a prospectus. When available, copies of the final prospectus may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at (866) 471-2526; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146.
A registration statement on Form F-1 relating to these securities has been filed with, and declared effective by, the SEC. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. The Brazilian offering of the BDRs has been registered with and approved by the CVM. 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.
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