Zenvia, which provides a customer experience communications platform in Latin America, announced terms for its IPO on Tuesday.
The São Paulo, Brazil-based company plans to raise $162 million by offering 11.5 million shares at a price range of $13 to $15. The company plans to raise an additional $50 million in a concurrent private placement to Twilio. At the midpoint of the proposed range, Zenvia would command a market value of $548 million.
Zenvia originally planned to raise $213 million by offering 12.9 million shares at a price range of $15.50 to $17.50, but postponed the offering ahead of its pricing in May.
Zenvia was founded in 2004 and booked $81 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol ZENV. Goldman Sachs, Morgan Stanley, Bradesco BBI, Itau BBA, UBS Investment Bank, and XP Investimentos are the joint bookrunners on the deal. It is expected to price during the week of July 19, 2021.
