Inter in Follow-On Equity Offering

Cleary Gottlieb represented Inter & Co Inc. (Inter) in 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.