Vitru closes Crescera option

Vitru announced the closing of the rights offering shortfall option by Crescera pursuant to the investment agreement entered into on September 27, 2022 with Crescera Growth Capital Master V Fundo de Investimento em Participacoes Multiestrategia and Crescera Growth Capital V Coinvestimento III Fundo de Investimento em Participacoes Multiestrategia. As a result of the exercise of the option, Crescera has subscribed for 215,903 new common shares issued by Vitru for a total consideration of US$3,458,766 or US$16.02 per common share. As previously announced, Crescera had the option to acquire additional common shares not subscribed for by Vitru’s minority shareholders in Vitru’s previously announced rights offering, for up to a maximum amount equivalent to R$100 million less the total amount received by Vitru from subscriptions of new common shares by minority shareholders pursuant to the rights offering. Crescera has exercised the option agreed with Vitru in full and its equity stake in Vitru now amounts to approximately 11.44% of Vitru’s outstanding common shares.