VTEX, which provides enterprise software used to build online stores in Latin America, raised $361 million by offering 19 million shares (27% secondary) at $19, above the range of $15 to $17. Insider Tiger Global Management had indicated on $50 million worth of shares in the offering.
VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. Its partner ecosystem includes more than 1,000 integrated solutions, 200 systems integrators, 100 marketplaces, 80 payments solutions, and 50 logistics companies. As of March 31, 2021, VTEX had more than 2,000 customers and over 2,500 active stores across 32 countries.
VTEX plans to list on the NYSE under the symbol VTEX. J.P. Morgan, Goldman Sachs, BofA Securities, KeyBanc Capital Markets, Morgan Stanley, and Itau BBA acted as joint bookrunners on the deal.
