Inter & Co to end Brazil Level II BDR program
Inter & Co will end its Sponsored Level II BDRs, offering holders NASDAQ shares, new unsponsored BDRs, or cash via a sales facility, with detailed timelines to be announced.
Rhea-AI Filing Summary
Inter & Co, Inc. (INTR) describes how it will discontinue its Sponsored Level II Brazilian Depositary Receipts (BDRs) program backed by its Class A common shares, following a decision by the Brazilian Securities Commission (CVM) Board of Commissioners.
The CVM partially granted Inter & Co’s request for a differentiated discontinuation procedure. Holders of Level II Sponsored BDRs will be able to choose among three paths: receipt of Class A ordinary shares traded on NASDAQ, receipt of Unsponsored Level I BDRs (INBR34) on a 1:1 basis backed by the same NASDAQ shares, or participation in a Sales Facility, under which the underlying NASDAQ shares will be sold and the cash proceeds delivered. The Sales Facility will be the default option for investors who do not make an election during the designated election period. Inter & Co states it will proceed under these terms and will publish the full schedule and procedural details to BDR holders within ten Brazilian business days from receipt of the CVM’s official letter.
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Filing Explained
The partially approved BDR wind-down remains in implementation, with program and foreign-issuer registration cancellations still ahead.
As a Form 6-K, this is an interim report by a foreign private issuer of material information; it says the CVM partially approved a differentiated BDR discontinuation procedure, which has moved to implementation but not to the later registration-cancellation steps.
Under the attached CVM letter, after the procedure is carried out, B3 must attest that it was completed. The CVM’s SRE will then address cancellation of the Level II BDR program within up to 20 business days, followed by the SEP’s action on cancellation of Inter&Co’s foreign-issuer registration within up to 15 business days.
Key Figures
CVM Board decision date: May 6, 2026
Official Letter date: September 1, 2026
Deadline to disclose schedule: 10 Brazilian business days
+1 more
4 metrics
CVM Board decision date
May 6, 2026
Date the CVM Board of Commissioners decided to partially grant the differentiated discontinuation procedure
Official Letter date
September 1, 2026
Date of CVM Official Letter No. 81/2026/CVM/SRE/GER-2 notifying Inter & Co and B3
Deadline to disclose schedule
10 Brazilian business days
Period within which Inter & Co will disclose the full schedule after receipt of the CVM Official Letter
Unsponsored Level I BDR exchange ratio
1:1
Ratio for receiving Unsponsored Level I BDRs (INBR34) backed by Class A Ordinary Shares, matching current Level II BDR composition
Key Terms
Sponsored Level II BDR Program, Unsponsored Level I BDRs, Sales Facility, Brazilian Depositary Receipts, +1 more
5 terms
Sponsored Level II BDR Program financial
"discontinuation of the Company’s Level II Sponsored Brazilian Depositary Receipts program"
Unsponsored Level I BDRs financial
"receipt of Unsponsored Level I BDRs (ticker: INBR34) backed by Class A Ordinary Shares"
Sales Facility financial
"the standard and automatic procedure for investors who do not expressly state their preferred option ... will be the Sales Facility"
Brazilian Depositary Receipts financial
"procedures for the discontinuation of the Company’s Level II Sponsored Brazilian Depositary Receipts program"
Brazilian Depositary Receipts (BDRs) are certificates traded on Brazilian exchanges that represent ownership of shares in foreign companies, allowing local investors to buy and sell exposure to those overseas stocks without opening foreign brokerage accounts. They matter because they let investors diversify across global companies using local currency and trading hours, similar to buying a locally issued voucher for a foreign product, while still exposing portfolios to the performance and risks of the underlying foreign shares.
Emissor Estrangeiro regulatory
"proceda ao cancelamento do registro de Emissor Estrangeiro"
FAQ
What is Inter & Co (INTR) announcing about its Brazilian BDR program?
Inter & Co is implementing the discontinuation of its Sponsored Level II BDR Program backed by Class A common shares, under a differentiated procedure partially granted by the CVM’s Board of Commissioners. Holders will have options on how to replace or monetize their current BDRs.
What options do INTR Level II Sponsored BDR holders have in this discontinuation?
Holders may elect to receive Class A ordinary shares traded on NASDAQ, receive Unsponsored Level I BDRs (INBR34) backed 1:1 by the same shares, or use a Sales Facility under which the underlying NASDAQ shares are sold and proceeds delivered.
What is the default option if INTR BDR holders do not make an election?
The default is the Sales Facility: the Class A ordinary shares underlying the Level II Sponsored BDRs will be sold on NASDAQ and the cash proceeds will be delivered to the respective investors, if they do not state a preference during the election period.
Will Unsponsored Level I BDRs become the standard replacement for INTR’s Level II BDRs?
No. The CVM decision allows Unsponsored Level I BDRs (INBR34) to be offered as an option in the discontinuation procedure, on a 1:1 ratio with the current Level II BDRs, but explicitly states they will not be the default option.
When will Inter & Co (INTR) provide the detailed schedule for the BDR discontinuation?
Inter & Co states it will disclose the full schedule and procedural details for the discontinuation to holders of its Level II Sponsored BDRs within 10 Brazilian business days counted from receipt of the CVM’s Official Letter dated September 1, 2026.
What did the CVM’s Board of Commissioners decide regarding INTR’s request?
At a meeting on May 6, 2026, the CVM’s Board of Commissioners partially granted Inter & Co’s request to adopt a differentiated procedure for discontinuing its Level II Sponsored BDR Program and outlined future steps for cancelling the BDR program and the foreign issuer registration.
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United States Securities and Exchange Commission
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
Commission File Number 132-02847
(Exact name of registrant as specified in its charter)
N/A
(Translation of Registrant’s executive offices)
(Address of registered executive offices)
Av Barbacena, 1,219, 22nd Floor
Belo Horizonte, Brazil, ZIP Code 30 190-131
(Address of principal executive office)
Telephone: +55 (31) 2138-7978
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ 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):
Yes ☐ No ☒
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):
Yes ☐ No ☒
EXHIBIT INDEX
| Exhibit No. | Description of Exhibit | |||||||
| 99.1 | Discontinuation of the Sponsored Level II BDR Program — Decision of the CVM Board of Commissioners | |||||||
1
SIGNATURE
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.
| INTER & Co, INC. | |||||||||||
| By: | /s/ Rafaela de Oliveira Vitoria | ||||||||||
| Name: | Rafaela de Oliveira Vitoria | ||||||||||
| Title: | Head of Investor Relations | ||||||||||
Date: September 02, 2026
JUR_SP - 43464936v1 - 10550005.487886 JUR_SP - 57849026v6 - 12066004.556979 INTER&CO, INC. INTER & CO, INC. (NASDAQ: INTR, B3: INBR32) (“Inter&Co” or the “Company”), further to the 6K disclosed on January 26, 2026 regarding the procedures for the discontinuation of the Company’s Level II Sponsored Brazilian Depositary Receipts program (the "Sponsored Level II BDRs" and the "Sponsored Level II BDR Program") backed by Class A common shares (“Class A Common Shares”), hereby informs its shareholders and the market that, through Official Letter No. 81/2026/CVM/SRE/GER-2 attached hereto (“Official Letter”), it was notified that, at a meeting held on May 6, 2026, the CVM's Board of Commissioners (the "Board of Commissioners") partially granted the Company’s request for the adoption of a differentiated procedure for the discontinuation of the Sponsored Level II BDR Program, on the following terms: (i) delivery of Class A ordinary shares issued by the Company (ticker: INTR), traded on NASDAQ, to holders of Level II Sponsored BDRs who elect this alternative (“Receipt of Class A Ordinary Shares”); (ii) receipt of Unsponsored Level I BDRs (ticker: INBR34) backed by Class A Ordinary Shares (ticker: INTR) in a 1:1 ratio (the same composition as the current Level II Sponsored BDRs (ticker: INBR32)) may be included in the discontinuation procedure as an option available to investors, but it will not be the default option for those who do not expressly indicate otherwise (“Receipt of Unsponsored Level I BDRs”); (iii) the standard and automatic procedure for investors who do not expressly state their preferred option during the Election Period will be the Sales Facility, consisting of the sale, on NASDAQ, of the Class A Ordinary Shares underlying the Level II Sponsored BDRs listed on B3 S.A. – Brasil, Bolsa, Balcão, and the subsequent delivery of the proceeds from such sale to the relevant investors (“Sales Facility”). The Company further informs that: (a) it will proceed with the discontinuation of the Level II Sponsored BDR Program under the terms of the Board of Commissioners decision; and (b) it will disclose the full schedule and other details of the procedure to holders of the Company’s Level II Sponsored BDRs within 10 (ten) Brazilian business days counted from receipt of the Official Letter by the Company. The Company will keep the market and its shareholders informed regarding the matters addressed in this Material Fact. Additional information may be obtained from the Company's Investor Relations Department, through the email ir@inter.co or on the website: http://investors.inter.co. Belo Horizonte, September 2, e 2026 RAFAELA DE OLIVEIRA VITÓRIA Head of Investor Relations
COMISSÃO DE VALORES MOBILIÁRIOS Rua Sete de Setembro, 111/2-5º e 23-34º Andares, Centro, Rio de Janeiro/RJ – CEP: 20050-901 – Brasil - Tel.: (21) 3554-8686 Rua Teixeira da Silva, nº 217, 8º e 9º andares - Paraíso - São Paulo/SP - CEP: 04002-905 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4º Andar, Brasília/DF – CEP: 70712-900 – Brasil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br Ofício nº 81/2026/CVM/SRE/GER-2 Rio de Janeiro, 01 de setembro de 2026. À Senhora ANA LÚCIA PEREIRA B³ S.A. Brasil, Bolsa, Balcão Superintendência de Listagem e Acompanhamento de Empresas Praça Antonio Prado, 48 01010-901 São Paulo (SP) cc aos Senhores Inter & Co, Inc. Ugland House, Grand Cayman KY1-1104 PO Box 309 - Cayman Islands JOSÉ LUIZ HOMEM DE MELLO Pinheiro Neto Advogados Rua Hungria, nº 1.100 CEP: 01.455-906 - São Paulo, SP ana.pereira@b3.com.br; emissores@b3.com.br; sep@cvm.gov.br; jhmello@pn.com.br; gmonteiro@pn.com.br Assunto: Manifestação do Colegiado Processo SEI n.º 19957.002560/2026-75 - Pedido de cancelamento de Programa de BDR N II Senhores Requerentes, 1. Referimo-nos ao pedido realizado junto à B³ em 29/01/2026 por INTER & CO, INC ("Emissora" ou "Patrocinadora" ou "Requerente") bem como à manifestação encaminhada pela B³ à CVM em 13/02/2026 a respeito do procedimento diferenciado que a Patrocinadora pretende implementar para a
descontinuidade de negociação dos BDRs lastreados em ações de sua emissão, no âmbito do pedido de cancelamento do Programa de BDRs Nível II (registrado sob o n ú m e r o CVM/SRE/BDR/2021/071, no Processo SEI 19957.005552/2021-76, naquela oportunidade no nível I, alterado para Nível II no âmbito do processo 19957.003813/2022-02); 2. A propósito, comunicamos que, em reunião realizada em 06/05/2026, por maioria dos votos, o Colegiado da CVM decidiu, nos termos do extrato da ata ora anexado, pelo deferimento parcial do pedido de adoção de procedimento diferenciado para descontinuidade das negociações dos BDRs Nível II da Patrocinadora. 3. Com vistas a dar maior clareza em termos de horizonte temporal da apreciação dos pedidos em tela, listamos as etapas futuras para fins de apreciação, pela CVM, dos pedidos ora em comento: 1. Uma vez sendo efetivado o procedimento de descontinuidade nos termos aprovados pelo Colegiado, os Requerentes deverão apresentar à CVM declaração da B³ atestando o cumprimento dos referidos procedimentos, sendo que a SRE se manifestará em até 20 dias úteis a respeito, para fins do cancelamento do registro do Programa de BDR Nível II, sendo cabível a apresentação de eventuais exigências e reiteração, às quais serão aplicáveis os prazos previstos para pedido de registro de ofertas públicas de distribuição de valores mobiliários e 2. Após o cancelamento do registro do Programa de BDR Nível II a SRE se manifestará à SEP em até 15 dias úteis para que aquela área técnica proceda ao cancelamento do registro de Emissor Estrangeiro. 4. Pedimos, portanto, que atentem para os orientações acima, de modo a que possa ser dado prosseguimento ao efetivo cancelamento do programa de BDR NII e registro de emissor, ambos em nome da Inter&Co, Inc. Atenciosamente, ELAINE MOREIRA M. DE LA ROCQUE Gerente de Registro 2 Documento assinado eletronicamente por Elaine Moreira Martins de La Rocque, Gerente, em 01/09/2026, às 17:26, com fundamento no art. 6º do Decreto nº 8.539, de 8 de outubro de 2015.
A autenticidade do documento pode ser conferida no site https://sei.cvm.gov.br/conferir_autenticidade, informando o código verificador 2814864 e o código CRC 89165E6D. This document's authenticity can be verified by accessing https://sei.cvm.gov.br/conferir_autenticidade, and typing the "Código Verificador" 2814864 and the "Código CRC" 89165E6D. Referência: Processo nº 19957.002560/2026-75 Documento SEI nº 2814864