GetNinjas raises R$ 550 million in B3 IPO

In mid-May, digital freelancer platform GetNinjas raised R$550 million via an IPO at B3, with shares at R$ 20 – slightly below the price per share suggested by coordinators, between R$ 24.90 and R$ 33.50. Now, GetNinjas is listed at the Brazilian stock exchange under the ticker NINJ3.

“This is a great milestone in GetNinjas’ history. I’m very glad to see the business I started 10 years ago taking this important step to promote market digitalization and, thus, increasingly connect those who need services with who can provide them.”, stated Eduardo L´Hotellier, CEO and founder of the company.

GetNinja's shareholders – such as Saint-Gobain, Tiger Global, Monashees, KV GN Holdings, Evan Feinberg and Mr. L´Hotellier – sold near R$ 233 million in the deal. Moreover, R$321.3 million was raised via new stock sales. GetNinjas will reinvest the funds in marketing and human resources. 

The offer was backed by the fund managers Verde Asset, Miles Capital and Indie Capital. The transaction was legally overseen by Demarest Advogados (underwriters' counsel); Lefosse Advogados (company's counsel); Mattos Filho, Veiga Filho, Marrey Jr. and Quiroga Advogados (Monashees' and Kaszek's counsel); Tozzini Freire Advogados (Saint Gobain's counsel); Pinheiro Neto Advogados (Tiger Global's and Evan's counsel). Banco BTG Pactual served as leading financial coordinator, and J.P. Morgan, UBS Brasil and Bradesco BBI as offer coordinators.