Itaitinga Participações S.A. announced a private placement of 166,667 common shares and 333,333 class B preferred shares at BRL 1 per share for aggregate gross proceeds of BRL 500,000 on July 6, 2016. The transaction will include participation from existing investor GP Holding I LLC. Of the total amount, BRL 450,000 will be added to capital reserve and BRL 50,000 will be added to registered capital of the company. Thus, the company’s share capital will increase from BRL 732,385.40 to BRL 782,385.40 divided into 471,714 common shares and 943,427 class B preferred shares. The shares will be paid within a 12 month period. The transaction has been approved at shareholders’ special meeting.