The Firm represented BTG Pactual US Capital LLC, BofA Securities, InReatilc., Itau BBA USA Securities, Inc. and Santander Investment Securities Inc., as placement agents, in connection with the initial public offering of 49,166,000 preferred shares of Track & Field Co S.A. (“Track & Field”) on the São Paulo Stock Exchange (“B3”). The offering consisted of a primary offering of 19,718,000 preferred shares and a secondary offering of 29,448,000 preferred shares, and raised an aggregate of R$454.8 million.
The preferred shares were offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. The shares of Track & Field will trade on the B3 under the ticker symbol “TFCO4.”
Track & Field is a company in the Brazilian wellness market, connecting people to an active and healthy lifestyle through its products and services, including sporting goods, lifestyle goods, beachwear, footwear and accessories, as well as wellness events, such as yoga, fitness ballet and functional martial arts classes, among others.
The Simpson Thacher team included Grenfel S. Calheiros, Winnie Y. Loureiro and Alexandre Portnoi (Capital Markets); and Nancy L. Mehlman, Kelli Rivers and Dmitry Zelik (Tax).