Arco Platform enters into agreement to go private at $14 per share in cash

Arco Platform “announced that it has entered into a definitive agreement and plan of merger with Achieve Holdings and Achieve Merger Sub, a wholly owned subsidiary of Bidders’ HoldCo, pursuant to which investment entities affiliated with General Atlantic L.P. and Dragoneer Investment Group, LLC have agreed to acquire all of the outstanding Class A common shares of the Company, that are not held by such parties or Oto Brasil de Sa Cavalcante and Ari de Sa Cavalcante Net or their respective affiliates or the Rollover Shareholders, for a purchase price of $14.00 per Share in cash without interest. The Per Share Merger Consideration represents a 55% premium over the closing price of $9.04 per Share on November 30, 2022, the last trading day beore the Company disclosed receipt of the Bidders’ proposal to acquire all of the Public Shares, and premiums of approximately 38% and approximately 28% to the volume-weighted average trading price of the Shares during the 30 trading days and 60 trading days, respectively, prior to and including November 30, 2022. The Per Share Merger Consideration also represents a 28% premium over the initial proposed purchase price of $11.00 per Share as disclosed on November 30, 2022, and an 8% premium over the revised proposed purchase price of $13.00 per Share as disclosed on May 1, 2023. The Per Share Merger Consideration values Arco at a total enterprise value of approximately $1.5 billion.”