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Lavoro Limited (Nasdaq: LVRO), the first agricultural inputs distributor in Latin America to be listed on the Nasdaq stock exchange, has just announced the creation of a new Fundo de Investimento em Direitos Creditórios do Agronegócio [Agribusiness Credit Rights Investment Fund] (FIDC- Fiagro) of BRL 310 million (approximately US$ 55 million based on current exchange rates) with a three-year term.
The newly created Lavoro Agro Fundo de Investimentos nas Cadeias Produtivas Agroindustriais [Investment Fund for Agro-Industrial Production Chains] (FIDC-Fiagro) is structured in accordance with Brazilian regulations for agribusiness investment funds, with the objective of investing in agricultural receivables sold to Lavoro.
The proceeds of this issuance will be used to support Lavoro’s ongoing working capital needs and other general corporate purposes. This is Lavoro’s second FIDC-Fiagro issuance, following the first one of BRL 160 million in 2022.
“This new Fiagro issuance represents a significant step forward in our commitment to optimizing our capital structure, supporting our long-term growth plans by improving debt maturities and expanding our funding sources,” explains Ruy Cunha, CEO of Lavoro.
The issuance, divided into two series maturing in July 2027, is managed by Kanastra Administração de Recursos, with Itaú BBA acting as lead coordinator. The offering is exclusive to primary investors such as Itaú BBA and Itaú Asset, with no plans for distribution in the secondary market.
About Lavoro
Lavoro is the largest agricultural inputs distributor in Brazil and the first in Latin America to be listed on Nasdaq, the American stock exchange, under the tickers “LVRO” and “LVROW”. With a complete portfolio of products and services, the company empowers farmers to adopt innovative technologies and boost productivity. Founded in 2017, Lavoro has a broad geographical presence, operating in Brazil, Colombia and Uruguay, serving approximately 74,000 customers, through its physical presence, in its more than 220 stores distributed in Latin America and with a team of more than 1,000 technical sales consultants, and digitally, with its marketplace. Learn more about Lavoro here.
Forward-Looking Statements
The content of any website referenced or hyperlinked in this press release is for informational purposes only and the content thereof is not part of or incorporated into this press release.
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “targets,” “estimate,” “plan,” “project,” “forecast,” “intends,” “will,” “expects,” “anticipates,” “believes,” “seeks,” “aims,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to: statements regarding expectations related to Lavoro’s business growth and its ability to achieve expected results, increase revenue from existing customers, and consummate acquisitions; opportunities, trends, and developments in the agricultural inputs industry, including with respect to the industry’s future financial performance. These forward-looking statements are provided for illustrative purposes only, and are not intended to serve as, and should not be relied upon by any investor as, a guarantee, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond Lavoro’s control.
These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: the outcome of any legal proceedings that may be instituted against Lavoro related to the business combination agreement or the transaction; the ability to maintain the listing of Lavoro’s securities on Nasdaq; the price of Lavoro’s securities may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Lavoro operates, variations in operating performance among competitors, changes in laws and regulations affecting Lavoro’s business; Lavoro’s inability to meet or exceed its financial projections and changes in the consolidated capital structure; changes in general economic conditions; the ability to implement business plans, forecasts, and other expectations, changes in domestic and foreign business, market, financial, political and legal conditions; the outcome of any potential litigation, governmental and regulatory proceedings, investigations and inquiries; costs related to the business combination and being a public company and other risks and uncertainties indicated from time to time in the proxy statement/prospectus filed by Lavoro in connection with the business combination or in the future, including those under “Risk Factors” therein, or other filings by Lavoro with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lavoro currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
Furthermore, the forward-looking statements reflect Lavoro’s expectations, plans, or forecasts of future events and views as of the date of this press release. Lavoro anticipates that subsequent events and developments will cause Lavoro’s assessments to change. However, while Lavoro may elect to update these forward-looking statements at some point in the future, Lavoro specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lavoro’s views as of any date subsequent to the date of this press release. Therefore, undue reliance should not be placed on forward-looking statements.