By Brazil Stock Guide – Azul SA (AZUL4 BZ) called an extraordinary shareholders meeting to vote on a proposal to consolidate all of its outstanding common shares at a ratio of 150,000 shares to one, according to a regulatory filing released Wednesday (4).
The proposed consolidation would not change the company’s share capital. The measure is intended to increase the unit price of the airline’s stock above R$1 and bring its trading structure into compliance with B3 exchange requirements.
Currently, Azul shares trade in lots of 1 million units due to their low individual price. The company said the move would allow the stock to return to regular trading conditions with a higher nominal price per share.
Shareholders holding amounts that are not multiples of 150,000 shares will have until Monday (14) to adjust their positions in the market to match the proposed consolidation ratio.
If approved, the company said trading would change beginning Thursday (17). “From April 17, 2026, the company’s shares will be traded exclusively on a consolidated basis, with the standard trading lot reduced from 1 million to one share,” Azul said in the filing.
Warrants From 2025 Offering to Be Cancelled
Azul also announced changes involving subscription warrants issued in connection with its primary share offering completed Tuesday (29) in April 2025.
The instruments were issued as an additional benefit to investors in that transaction. According to the company, the warrants are classified under Class 11 claims linked to its restructuring process in the United States under Chapter 11.
With the completion of the reorganization plan and the exit from Chapter 11 proceedings, the warrants will be considered settled, cancelled and extinguished, meaning they will no longer be tradable.
In accordance with the restructuring plan, Azul requested that B3 remove the April 2025 warrants from the exchange’s trading environment.
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