Vasta Platform Limited Plans $307 Million IPO for July 31st (VSTA)

Vasta Platform Limited (VSTA) is planning to raise $307 million in an initial public offering on Friday, July 31st, IPO Scoop reports. The company plans to issue 18,600,000 shares at a price of $15.50-$17.50 per share.

In the last twelve months, Vasta Platform Limited generated $258.5 million in revenue and had a net loss of $1 million. The company has a market-cap of $306.6 million.

Goldman Sachs, BofA Securities, Morgan Stanley and Itau BBA served as the underwriters for the IPO and UBS Investment Bank and Bradesco BBI were co-managers.

Vasta Platform Limited provided the following description of their company for its IPO: ”  We are a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of our stakeholders, including students, parents, educators, administrators and private school owners. We have built a “Platform as a Service,” or PaaS, with two main modules. Our Content & EdTech Platform combines a multi-brand and tech-enabled array of high-quality core and complementary education solutions with digital and printed content through long-term contracts with partner schools. We characterize revenue associated with these arrangements as subscription revenue given the renewable and predictable nature of the revenue associated with these contracts. Our emerging Digital Platform will unify our partner schools’ entire administrative ecosystem, enabling them to aggregate multiple learning strategies, helping them to focus on education, and promoting client and revenue growth to allow them to become more profitable institutions. As of March 31, 2020, our network of business-to-business, or B2B, customers consisted of 4,167 partner schools. “.

Vasta Platform Limited was founded in 1991 and has 1956 employees. The company is located at Av. Paulista, 901, 5th Floor Bela Vista São Paulo – SP, 01310-100 Brazil and can be reached via phone at +551131337311 or on the web at http://www.vastaedu.com.br.

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