Netshoes Announces Amendment to the Merger Agreement with Magazine Luiza

SÃO PAULO--(BUSINESS WIRE)--Netshoes (Cayman) Limited (NYSE: NETS) announces that it has entered into a second amendment to the Agreement and Plan of Merger, dated April 29, 2019, and amended on May 26, 2019, by and among Netshoes, Magazine Luiza S.A. (“Magalu”) and its subsidiary (as amended from time to time, the “Merger Agreement”) to increase the Per Share Merger Consideration (as such term is defined in the Merger Agreement) from US$3.00 to US$3.70, and to increase the amount of that certain Company Termination Payment (as such term is defined in the Merger Agreement) from US$1,800,000 to US$6,000,000 (the “Amendment”).