Simpson Thacher represented UBS Securities LLC, Bradesco Securities, Inc., BTG Pactual US Capital, LLC, Itau BBA USA Securities, Inc. and Santander US Capital Markets LLC as placement agents in connection with the follow-on equity offering by Grupo Casas Bahia S.A. (“Casas Bahia”) of 778,649,283 common shares (the “Shares”), as well as 622,919,426 warrants which were delivered to the Shares subscribers (the “Warrants”). Four warrants were offered and allocated for each five common shares issued as part of this offering.
The Shares and the Warrants were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. Casas Bahia’s Shares are currently traded on the B3 stock exchange under the ticker symbol “VIIA3,” while the Warrants are traded on the B3 stock exchange under the ticker symbol “VIIA12.”
Casas Bahia is ranked among the largest sellers of electronics, appliances, cellphones and furniture in Brazil, with a network of 1,127 brick-and-mortar stores under the “Casas Bahia” (972 stores) and “Ponto” (155 stores) brands, located in more than 550 cities and 22 states plus the federal district in Brazil, as well as an omnichannel sales platform integrated by their e-commerce operations with the brands “Casas Bahia”, “Ponto” and “Extra.com.br” and a strong financial ecosystem offering, among others, digital innovation for individuals and corporations and payment solutions.
The Simpson Thacher team included Grenfel S. Calheiros, Paulo F. Cardoso, Luiz Noronha and João Felipe Rocha (Capital Markets); and Jonathan Cantor (Tax).