Vitru Ltd. (VTRU) Announces Proposed 11.23M IPO Between $22-$24/Sh

Vitru Limited (NASDAQ: VRTU), a Brazilian distance learning education group company, today announced that it has launched its initial public offering of 11,230,126 common shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission ("SEC"). Vitru is offering 6,000,000 common shares and certain selling shareholders are offering 5,230,126 common shares. The estimated price range for the offering is US$22.00 and US$24.00 per common share. Vitru has applied to list its common shares on the Nasdaq Global Select Market under the ticker symbol “VTRU.” In connection with the offering, Vitru and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,684,518 shares.

Goldman Sachs & Co. LLC, BofA Securities, Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC are acting as Global Coordinators in this offering, and Goldman Sachs & Co. LLC, BofA Securities, Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Banco Bradesco BBI S.A., Banco BTG Pactual S.A.—Cayman Branch, Credit Suisse Securities (USA) LLC, Santander Investment Securities Inc. and XP Investments US, LLC are collectively acting as bookrunners of this offering.

The proposed IPO will be made only by means of a prospectus.

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