Benzinga | Jun 3, 2021 06:35AM EDT

dLocal Prices IPO at $21 Per Share; Trading Begins Today

* Technology-first payments platform, dLocal Ltd (NASDAQ:DLO), has priced 29.4 million shares, including 25 million shares from selling shareholders at $21 per share, to raise $92.6 million in its initial public offering (IPO).

* The offer price has exceeded the price range of $16 - $18 per share.

* The shares are expected to begin trading on the Nasdaq under the ticker symbol "DLO" today.

* The selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 4.4 million shares.

* dLocal will utilize the IPO proceeds to accelerate investments in technology, manage potential working capital needs, pursue growth opportunities via acquisition and general corporate purposes.