We advised the issuer on the private placement and rights offering of common shares

Davis Polk advised Vitru Limited in connection with its $61.7 million private placement of common shares to certain funds managed by Crescera Capital and its $14.8 million 1-for-6 rights offering of common shares at $16.02 per share. The rights offering consisted of an SEC-registered shelf takedown. The common shares are traded on the Nasdaq Global Select Market.

Vitru is the leading pure distance learning education group in the postsecondary distance learning market in Brazil. Through its invested companies, Vitru provides a complete pedagogical ecosystem focused on hybrid distance learning experience for undergraduates and continuing education students. Vitru’s mission is to democratize access to education in Brazil through a digital ecosystem and empower every student to create their own successful story.

Crescera Capital is an independent asset management group which focuses on private equity and venture capital.

The Davis Polk corporate team included Manuel Garciadiaz, Lourenço Lopes-Sabino and Matt Weaver. The tax team included Mario J. Verdolini and Justin Corvino. Members of the Davis Polk team are based in the São Paulo and New York offices.

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