CADE clears NSP–Petroquímica act; Braskem (NYSE: BAK) updates

Rhea-AI Filing Summary

Braskem S.A. reports that the Tribunal of Brazil’s competition authority CADE has unanimously and unconditionally approved Concentration Act No. 08700.006808/2025-81, which was jointly submitted by NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy. The correspondence from Novonor S.A. – Under Judicial Reorganization emphasizes that the terms and conditions reviewed by CADE are not definitive or binding for any potential transaction, and that negotiations between NSP Investimentos and the Fund are still ongoing and may lead to different terms. Braskem states it will keep shareholders and the market informed of any material developments related to this matter in line with applicable laws.

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Cross-border M&A and regulatory expert

CADE cleared a potential deal structure, but terms remain non-binding and negotiations continue.

The disclosure centers on Brazil’s antitrust authority CADE granting unanimous, unrestricted approval to Concentration Act No. 08700.006808/2025-81, a filing made by NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy. This indicates that, from a competition-law perspective, the structure described in that act has passed regulatory review at the Tribunal level.

However, the notice explicitly states that the act’s terms and conditions are neither definitive nor binding for any potential transaction. Ongoing negotiations between NSP Investimentos and the Fund may still alter key elements or even the feasibility of a deal. For Braskem, the main takeaway is that one important regulatory hurdle has been addressed, but the economic and transactional contours are still being shaped by the counterparties.

Braskem commits to updating the market on material developments, aligning with disclosure duties for events that may affect shareholders and other stakeholders. Actual impact on the company will depend on whether NSP Investimentos and the Fund eventually agree on final terms following CADE’s approval, and how any such arrangement interacts with prior material facts referenced by the company.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2025

(Commission File No. 1-14862 )

BRASKEM S.A.

(Exact Name as Specified in its Charter)

N/A

(Translation of registrant's name into English)

Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___       Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ______       No ___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.

 

NOTICE TO THE MARKET

São Paulo, October 1, 2025 – BRASKEM S.A. (“Braskem” or “Company”) (Ticker B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), in continuity with the material facts disclosed on May 23, July 7, and August 22, 2025, and the notice to the market of July 17, 2025, hereby informs its shareholders and the market in general that it has received correspondence from Novonor S.A. – Under Judicial Reorganization regarding the update of Concentration Act No. 08700.006808/2025-81 before the Administrative Council for Economic Defense (Superintendência-Geral do Conselho Administrativo de Defesa Econômica – CADE), as follows:

“ Ref.: Concentration Act No. 08700.006808/2025-81

In continuity with previous communications on the subject, we inform you that the Tribunal of the Administrative Council for Economic Defense (“CADE”) has approved today, unanimously and without restrictions, Concentration Act No. 08700.006808/2025-81, jointly submitted by NSP Investimentos S.A. (“NSP Inv”) and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy (“Fund”).

We clarify that the terms and conditions of the concentration act submitted for CADE’s review are not definitive or binding regarding the potential transaction. Therefore, depending on the progress of negotiations between NSP Inv and the Fund, which are still ongoing, new terms and conditions regarding the potential transaction may be agreed upon by the parties.”

Braskem informs that it will keep the market updated on any material developments on the matter, in compliance with applicable laws.

Additional information can be obtained from the Investor Relations Department by phone at +55 (11) 3576-9531 or by e-mail braskem-ri@braskem.com.br.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: October 1, 2025

	BRASKEM S.A.
	By:	/s/     Felipe Montoro Jens
		Name:	Felipe Montoro Jens
		Title:	Chief Financial Officer

FORWARD-LOOKING STATEMENTS

This Notice to the Market may contain forward-looking statements. These statements are not historical facts, but rather are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact regarding the geological event in Alagoas and related legal procedures on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan”, “objective” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, the objective of expanding its efforts to achieve the sustainable macro objectives disclosed by the Company, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including, but not limited to, general economic and market conditions, industry conditions and operating factors, availability, development and financial access to new technologies. Any change in these assumptions or factors, including the projected impact from the joint venture and its development of technologies, from the geological event in Alagoas and related legal procedures and the unprecedented impact on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause effective results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM). This Notice to the Market does not constitute any offer of securities for sale in Brazil. No securities may be offered or sold in Brazil without being registered or exempted from registration, and any public offer of securities carried out in Brazil must be made through a prospectus, which would be made available by Braskem and contain detailed information on Braskem and its management, as well as its financial statements.

FAQ

What did Braskem S.A. (BAK) disclose in this Form 6-K?

Braskem disclosed that Brazil’s antitrust authority CADE has unanimously and without restrictions approved Concentration Act No. 08700.006808/2025-81, which was jointly submitted by NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy. The company is relaying this information to shareholders and the market.

What is Concentration Act No. 08700.006808/2025-81 mentioned by Braskem (BAK)?

Concentration Act No. 08700.006808/2025-81 is a filing before CADE jointly submitted by NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy. The CADE Tribunal approved this act unanimously and without restrictions, according to correspondence received by Braskem from Novonor S.A. – Under Judicial Reorganization.

Is the CADE-approved concentration act already a binding deal according to Braskem S.A.?

No. The correspondence reproduced by Braskem clarifies that the terms and conditions in the concentration act reviewed by CADE are not definitive or binding for any potential transaction. Negotiations between NSP Investimentos S.A. and the Fund are still ongoing and may lead to new terms and conditions.

Which parties are involved in the potential transaction referenced by Braskem (BAK)?

The potential transaction referenced involves NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações – Multistrategy. Braskem reports that these parties jointly submitted the concentration act to CADE and that their negotiations are continuing.

How will Braskem S.A. keep investors informed about this CADE-related matter?

Braskem states that it will keep the market updated on any material developments related to this matter, in compliance with applicable laws. The company also provides contact details for its Investor Relations Department for additional information.

Does this Braskem (BAK) notice include any offer of securities in Brazil?

No. The notice explicitly states that it does not constitute any offer of securities for sale in Brazil. It reiterates that securities may not be offered or sold in Brazil without registration or an exemption, and that any public offer would require a prospectus made available by Braskem.