Inter&Co Prices 32M Class A Share Offering at $4.40/Share

TL;DR

**Inter&Co is selling 32 million new shares at $4.40 each, diluting current shareholders but raising capital for growth.**

AI Summary

Inter & Co, Inc. (NASDAQ: INTR) announced on January 18, 2024, the pricing of a follow-on public offering of 32,000,000 Class A common shares at $4.40 per share, aiming to raise $140.8 million before expenses. The offering is expected to close on January 22, 2024, with underwriters having an option to purchase an additional 4,800,000 shares. This matters to investors because it indicates the company is raising capital, which could dilute existing shareholders' ownership but also fund future growth initiatives.

Why It Matters

This offering will dilute existing shareholders' ownership as more shares enter the market, but the capital raised could be used for strategic growth, potentially increasing the company's long-term value.

Risk Assessment

Risk Level: medium — The offering introduces share dilution, which can put downward pressure on the stock price in the short term, but the capital raised could mitigate long-term risks if used effectively.

Analyst Insight

An investor should monitor how Inter&Co utilizes the proceeds from this offering. While dilution is a short-term negative, strategic use of capital for growth or strengthening the balance sheet could be a long-term positive. Consider the company's growth prospects and current valuation relative to the offering price.

Key Numbers

• 32,000,000 — Class A common shares offered (Represents the primary number of shares being sold in the public offering.)
• $4.40 — Offering price per share (This is the price at which each new share is being sold to investors.)
• $140.8 million — Gross proceeds from the offering (Calculated by multiplying 32,000,000 shares by $4.40 per share, this is the total amount of money Inter&Co expects to raise before expenses.)
• 4,800,000 — Underwriters' option for additional shares (This represents potential additional shares that could be sold, increasing the total capital raised and further diluting existing shareholders.)

Key Players & Entities

• Inter & Co, Inc. (company) — the registrant announcing the follow-on public offering
• 32,000,000 (dollar_amount) — number of Class A common shares offered
• $4.40 (dollar_amount) — offering price per share
• January 18, 2024 (date) — date of the pricing announcement
• January 22, 2024 (date) — expected closing date of the offering
• 4,800,000 (dollar_amount) — additional Class A common shares underwriters have an option to purchase

Forward-Looking Statements

• Inter&Co's stock price (INTR) may experience short-term downward pressure due to dilution from the new share offering. (INTR) — medium confidence, target: Q1 2024
• The capital raised from this offering will be used for general corporate purposes, potentially funding expansion or debt reduction. (Inter & Co, Inc.) — high confidence, target: Q2 2024

FAQ

Key Financial Figures

• $4.40 — A common shares at an offering price of $4.40 per share (the "Offering"). The shares

Filing Documents

• inter_coxpricing.htm (6-K) — 6KB
• inter_coxpricing001.jpg (GRAPHIC) — 89KB
• inter_coxpricing002.jpg (GRAPHIC) — 218KB
• inter_coxpricing003.jpg (GRAPHIC) — 48KB
• 0001628280-24-001602.txt ( ) — 495KB

From the Filing

inter_coxpricing United States Securities and Exchange Commission Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2024 Commission File Number 132-02847 INTER & Co, INC. (Exact name of registrant as specified in its charter) N/A (Translation of Registrant's executive offices) Av Barbacena, 1.219, 22nd Floor Belo Horizonte, Brazil, ZIP Code 30 190-131 Telephone: +55 (31) 2138-7978 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes No Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes No [AM_ACTIVE 405563246_4] Inter&Co Announces Pricing of Follow-on Public Offering of its Class A Common Shares JANUARY 18, 2024 - INTER & CO, INC. (NASDAQ: INTR; B3: INBR32) ("Inter&Co" or the "Company") announced the pricing on the date hereof of a follow-on public offering of 32,000,000 of its Class A common shares at an offering price of $4.40 per share (the "Offering"). The shares are being offered by Inter&Co pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC"). The offering is expected to close on January 22, 2024. In connection with this Offering, the Company has granted the underwriters the option to purchase up to 4,800,000 additional Class A common shares. Inter&Co's shareholders do not have any right of preference or priority to subscribe for shares under the Offering. Inter&Co intends to use the net proceeds from the offering of the shares for general corporate purposes. Goldman Sachs & Co. LLC and BofA Securities, Inc. are acting as Global Coordinators in the Offering. A prospectus supplement and accompanying base prospectus relating to and describing the final terms of the offering will be available on EDGAR on the SEC's website located at www.sec.gov or a copy may be obtained by contacting: (i) Goldman Sachs & Co. LLC, 200 West Street, New York, NY, 10282, Attention: Prospectus Department, telephone: 1-866-471-2526, facsimile: 1-212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com or (ii) BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by emailing dg.prospectus_requests@bofa.com. Before you invest, you should read the registration statement (including the prospectus supplement) and other documents incorporated by reference and filed with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. THE OFFER AND SALE OF THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE BRAZILIAN SECURITIES COMMISSION (COMISSÃO DE VALORES MOBILIÁRIOS, OR "CVM") AND, THEREFORE, WILL NOT BE CARRIED OUT BY ANY MEANS THAT WOULD CONSTITUTE A PUBLIC OFFERING IN BRAZIL UNDER CVM RESOLUTION NO 160, DATED 13 JULY 2022, AS AMENDED ("CVM RESOLUTION 160") OR AN UNAUTHORIZED DISTRIBUTION UNDER BRAZILIAN LAWS AND REGULATIONS. About Inter&Co Our mission is to empower people to manage their finances and daily activities, through a simple and seamlessly integrated digital experience. We aim to bring the breadth of possibilities of the offline world to the palm of our clients' hands, with the convenience and scalability of our digital native Super App. Contact Investor Relations ir@inter.co https://investors.inter.co/ SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. INTER & Co, INC. By: /s/ Santiago Horacio Stel Name: Santiago Horacio Stel Title: Senior Vice President of Finance and Risks Date: January 18, 2024

View Full Filing

View this 6-K filing on SEC EDGAR