Francesca Odell, Jonathan Mendes de Oliveira, Matt Brigham

Cleary Gottlieb assists Inter in follow-on equity offering

Cleary Gottlieb represented Inter & Co, Inc. (Inter) on its follow-on SEC-registered equity offering. The offering raised approximately $140 million in gross proceeds and consisted of a primary offering of 32 million Class A common shares. The offering was priced at $4.40 per share on January 17, 2024, and closed on January 22, 2024.

The shares were offered pursuant to an automatic shelf registration statement on file with the SEC. Goldman Sachs & Co. LLC and BofA Securities, Inc. acted as global coordinators in the offering.

Inter’s Class A common shares are listed on the Nasdaq Global Select Market and Brazilian Depositary Receipts representing Inter’s Class A common shares are listed on the São Paulo Stock Exchange (B3). Inter is a fully digital bank that also provides app-based integrated nonfinancial services.

The Cleary corporate team included partners Francesca Odell (pictured left) and Jonathan Mendes de Oliveira (pictured center), associate Raisa Reggiori, and international lawyer David Schechtman. Partner Matt Brigham (pictured right), associate Nathaniel Pribil, and law clerk Jack Samuel advised on tax matters. All lawyers are based in New York, except for Jonathan Mendes de Oliveira and Raisa Reggiori, who are based in Sao Paulo.