SoFi CEO enters prepaid forward contract on 1.5 million shares
Azul S.A. (B3:AZUL4; OTC:AZULQ) announced Monday that it has entered into a Backstop Commitment Agreement with certain parties to support an equity capital raise of up to $650 million. The agreement was signed on July 31 and is subject to approval by the Bankruptcy Court.
According to a statement in the SEC filing, the company intends to file a motion seeking the court’s approval for the agreement, with the motion expected to be heard later in the ongoing Chapter 11 proceedings.
Azul stated it will continue to inform its shareholders, customers, employees, and the market of all material developments related to its restructuring process, in compliance with applicable laws and regulations.
This information is based on a press release statement included in the company’s SEC filing.
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