CVM definition
Examples of CVM in a sentence
Azul shall complete an offering of Local Underlying Convertible Debentures registered under CVM Resolution 160 and addressed to professional investors, including mandatory priority subscription rights for existing Azul shareholders consisting of professional investors, non-professional investors, local and certain foreign investors (subject to compliance with applicable securities laws in applicable jurisdictions) (“Debentures Offering”).
A priority exercise window for existing shareholders will last for the minimum period provided under Brazilian regulations, except as otherwise requested by the CVM.
The Company will file with the CVM a request to obtain prior approval to carry out the Debentures Offering (i) featuring the Dual Series Structure and (ii) to waive limitation imposed by CVM Resolution 77 on Azul or its subsidiaries holding shares issued by Azul (the “CVM Waiver Request”).
The Awards and any securities granted under the Plan have not been and will not be publicly issued, placed, distributed, offered or negotiated in the Brazilian capital markets and, as a result, will not be registered with the Brazilian Securities Commission (Comissão de Valores Mobiliários) (CVM).
The maximum upsize option for the CVM Resolution 160 offering will be set at the amount that Azul deems to be sufficient to enable the subscription by the Issuer of the number of Local Underlying Convertible Debentures what would be sufficient to allow for the delivery of preferred shares upon the conversion of all Second Out Exchangeable Notes.