Minerva raises R$1.715 billion in first phase of capital increase

Minerva raised R$1.715 billion through the subscription of 331.7 million shares as part of its capital increase, concluding the first phase of the process with approximately 85.75% of the available shares taken up, according to a Material Fact published last week. The operation was conducted at R$5.17 per share.

With this, the company surpassed the minimum target of R$1 billion required for the partial approval of the capital increase.

“The number of shares subscribed during the preemptive rights period exceeded the 193.4 million shares required for the approval of the partially subscribed capital increase,” the company reported.

Shareholders who exercised their preemptive subscription rights will also be entitled to subscription warrants, at a ratio of one warrant for every two shares acquired. Each warrant grants the investor the right to subscribe to one new share under the terms approved by the April 29 shareholders' meeting.

Following the conclusion of the first phase, 55.1 million shares remained available for subscription, representing approximately 14.25% of the total offering. These shares may be purchased by investors who requested to reserve the remaining shares at the time of subscription. Each initially subscribed share entitles the holder to acquire 0.16875 additional shares.