BAK$1.13-3.85%
Braskem SA
Sector: Industrial Organic ChemicalsIndustry: ChemicalsCountry: BRExchange: NYSE
Mkt Cap:$448.29M
Float & O/S:
Inst Own:
DilutionScan read 48 of BRASKEM SA's SEC filings and found 1 convertible on file for BAK. Analysis updated Oct 28, 2026.
Signal8 Summary
BAK
Bankruptcy proceedings initiated
Snapshot
Braskem is a Brazilian petrochemical producer in severe financial distress. The company has $13.9B in debt against $2.3B in cash, and shareholders' equity is negative. In June 2026, the Board initiated bankruptcy proceedings in Brazil and ancillary Chapter 15 proceedings in the US to restructure its capital.
What's Happening Right Now
- : Braskem confirmed it rejected restructuring proposals from bondholders, including a debtor-in-possession financing facility that would have diluted controlling shareholders.
- : The Board approved a resolution to request protective measures and initiate bankruptcy proceedings in Brazil and Chapter 15 proceedings in the US.
- : A Brazilian court granted precautionary injunctive relief, staying creditor enforcement actions for 60 days to facilitate negotiations.
- : Shine I FIP acquired approximately 34.3% of total capital and 50.1% of voting capital, triggering a change of control and mandatory tender offer.
