Core Insights - DLocal's stock price fell nearly 8% following the announcement of a secondary offering of shares by a major shareholder, contrasting with the S&P 500 index, which rose almost 1% on the same day [1][2]. Group 1: Secondary Offering Details - A major shareholder associated with General Atlantic is offering 15 million shares of DLocal's Class A common stock at a price of $12.75 each, which is significantly lower than the previous closing price [2]. - The underwriting syndicate for this offering includes JPMorgan Chase, Goldman Sachs, and Morgan Stanley, who have a 30-day option to purchase an additional 2.25 million shares [4]. Group 2: Market Reaction and Investor Sentiment - The sale of shares at a discount typically raises concerns among investors, but it does not necessarily reflect a loss of confidence in the company, as there are various reasons for such actions that may relate more to the seller's circumstances than the investment itself [5].