Exhibit 99.1
Arco announces closing of Debentures issuance in Brazil by Companhia Brasileira de Educação e Sistemas de Ensino S.A.
São Paulo, Brazil, August 26, 2021 – Arco Platform Limited (“Arco” or “Company”) (Nasdaq: ARCE), announces that, on August 25, 2021, Companhia Brasileira de Educação e Sistemas de Ensino S.A. (the “Issuer”), its indirect wholly-owned subsidiary, closed the issuance of 900,000 non-convertible debentures, each at a par value of R$1,000, totaling R$900 million (approximately US$171 million) (the “Debentures”) for public distribution with restricted placement efforts in Brazil (the “Offering”).
Arco will use the proceeds of the Offering to meet its current obligations, including amounts payable in connection with recent acquisitions, corporate purposes and payment of its general indebtedness. The Debentures mature on August 25, 2023, bear interest at 100% of the CDI rate (accumulated variation of the average daily Interbank Deposit Rate, based on 252 business days) plus 1.70% per annum, to be paid on the maturity date, and they are guaranteed by Arco Educação S.A.
About Arco Platform Limited (Nasdaq: ARCE)
Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience with while enabling schools to thrive.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Arco’s Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which
Exhibit 99.1
are beyond Arco’s control. Therefore, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Arco does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.
Investor Relations Contact
Arco Platform Limited
IR@arcoeducacao.com.br