06/07/2021 | News release | Distributed by Public on 06/08/2021 16:10
Davis Polk advised DLocal Limited ('dLocal') on its $710.3 million initial public offering of 33,823,530 shares of Class A common stock, consisting of 4,411,765 Class A common shares offered by dLocal and 29,411,765 Class A common shares offered by the selling shareholders (including 4,411,765 Class A common shares pursuant to the full exercise of the underwriters' option to purchase additional shares from the selling shareholders). The shares are listed on the Nasdaq Capital Market.
Based in Uruguay, dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers in 29 countries across APAC, the Middle East, Latin America and Africa. Through the 'One dLocal' concept (one direct API, one platform and one contract), global companies can accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.
The Davis Polk corporate team included partner Manuel Garciadiaz, counsel Drew Glover and associates Lourenço Lopes-Sabino and Felipe Saraiva Carneiro. Partner Adam Kaminsky provided executive compensation advice. Associate Sijia Cai provided Investment Company Act advice. The tax team included partner Po Sit and associate Shay Moyal. Members of the Davis Polk team are based in the New York, Northern California, São Paulo and Washington DC offices.