Arco Platform jumps after agreeing to $14/share take private deal [Seeking Alpha]
Arco Platform Limited - Class A Common Shares (ARCE)
Last arco platform limited - class a common shares earnings: 5/21 04:05 pm
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Source: Seeking Alpha
Arco Platform jumps after agreeing to $14/share take private dealAug. 11, 2023 9:26 AM ETArco Platform Limited (ARCE)By:Joshua FinemanSA EditorAndranik Hakobyan/iStock via Getty ImagesArco Platform (NASDAQ:soared 15%Private equity firms General Atlantic and Dragoneer Investment Group agreed to purchase all shares of Arco (de Sá Cavalcante and Ari de Sá Cavalcante Neto, according to astatementon Friday.The deal comes after the two private equity firms first offered to buy Arco (for $11 per share in cash.to $13 a shareThe deal will be funded through a combination of cash contributions from the bidders pursuant to equity commitment letters and equity rollovers by the founders, the bidders, and then rollover shareholders of common shares they beneficially own in the company.The deal is expected to close in Q4 of 2023 or Q1 of 2024.
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