Inter Co Inc (INTR)

Inter & Co Inc (INTR) stock dropped by 9.20% due to follow-on public offering. The offering involves the sale of up to 32,000,000 Class A common shares, and it is being conducted by the company itself. This move is pursuant to an effective shelf registration statement that Inter&Co has filed with the Securities and Exchange Commission (SEC). In addition to this, the company has also granted the underwriters the option to purchase an additional 4,800,000 Class A common shares. It is worth noting that this offering does not provide existing shareholders with any preferential subscription rights for these shares.

• Utilization of Proceeds: Inter&Co has outlined its intentions for the net proceeds generated from the sale of these shares. The company plans to use these funds for general corporate purposes, which can encompass a wide range of financial needs and initiatives.
• Global Coordinators for the Offering: Two prominent financial institutions, Goldman Sachs & Co. LLC and BofA Securities, Inc., have been appointed as Global Coordinators for this offering. Their role is crucial in facilitating the successful execution of the offering. However, it's important to emphasize that the completion of the offering, its final size, and the specific terms are subject to various factors, including market conditions. As such, there is no guarantee regarding the timing or ultimate completion of this offering.
• Registration Statement and Prospectus: The public offering will be conducted in accordance with an automatically effective registration statement on Form F-3. This registration statement was filed with the SEC and became effective upon filing. A prospectus supplement, accompanied by a base prospectus, will provide comprehensive details about the offering, including its final terms and conditions. These documents will offer potential investors valuable insights into the opportunity presented by Inter & Co Inc.'s Class A common shares.