UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2020
Commission File Number: 001-38673
Arco Platform Ltd.
(Exact name of registrant as specified in its charter)
Rua Augusta 2840, 9th floor, suite 91
Consolação, São Paulo – SP
01412-100,
Brazil
+55 (11) 3047-2655
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F |
X |
Form 40-F |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes | No |
X |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes | No |
X |
TABLE OF CONTENTS
EXHIBIT | |
99.1 | Press Release dated October 9, 2020 – Arco Announces New Chief Financial Officer. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Arco Platform Ltd. | |||||
By: | /s/ Ari de Sá Cavalcante Neto | ||||
Name: | Ari de Sá Cavalcante Neto | ||||
Title: | Chief Executive Officer |
Date: October 9, 2020
Exhibit 99.1
Arco Announces New Chief Financial Officer
São Paulo, Brazil, October 9th, 2020 – Arco Platform Limited, or Arco (Nasdaq: ARCE), today announces the following management changes, effective immediately:
· | Mr. Alexandre Nakamaru, current Financial Officer, has been appointed as Chief Financial Officer of Arco; and |
· | Mr. David Peixoto dos Santos has resigned as Chief Financial Officer of Arco. |
These changes conclude Mr. David Peixoto’s transition from Arco’s CFO position, as announced on August 24th and September 2nd. Mr. Peixoto’s responsibilities were assigned to two succeeding executives: Mr. Alexandre Nakamaru, Arco’s new CFO, who will focus on continuing the evolution of Arco’s internal processes, and Mr. Pedro Guerra, Arco’s COO, who will focus on business development efforts.
Ari de Sá Cavalcante Neto, Arco’s founder and CEO, said, “I would like to thank David once again for his outstanding commitment to Arco for the past 7 years. I am pleased that we will continue to benefit from his extensive experience in M&A, capital markets and business development as a member of our Board of Directors. I also wish luck to David in his new professional challenge, an Arco-seeded venture that will offer financial services to schools.”
Ari de Sá Cavalcante Neto further said, “Continuing our strategy to hire, retain and develop the best talent, I am happy that we were able to rely on internal leaders for David’s succession. Alexandre has the experience and the potential to execute his new role to the highest of standards.”
Alexandre Nakamaru has been the Financial Officer of Arco since June 2019. Mr. Nakamaru has 18 years of experience working at large multinational companies in Brazil (Monsanto, AmBev and Natura), in audit roles at Deloitte and as the CFO of two private equity owned companies. Mr. Nakamaru holds a BS in Business Administration from Fundação Armando Alvares Penteado - FAAP and a post-graduation degree in Controllership from Fundação Getúlio Vargas - FGV.
About Arco Platform Limited (Nasdaq: ARCE)
Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning, interactive proprietary content, and scalable curriculum
allows students to personalize their learning experience with high-quality solutions while enabling schools to provide a broader approach to education.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Arco’s Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. Therefore, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Arco does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.
Investor Relations Contact:
Arco Platform Limited
IR@arcoeducacao.com.br