[6-K] Tenaris S. A. Current Report (Foreign Issuer)
Azul S.A. (B3: AZUL4; OTC: AZULQ) filed a Form 6-K announcing that on 31 Jul 2025 it entered into a Backstop Commitment Agreement (BCA) with certain investors covering an equity capital raise of up to US$650 million.
The backstop parties agree to purchase any unsubscribed shares, guaranteeing full capitalization, but the arrangement is subject to U.S. Bankruptcy Court approval within the company’s ongoing Chapter 11 cases. Azul will file a motion seeking such approval and will notify stakeholders once a hearing is scheduled.
- Equity raise: up to US$650 m
- Status: conditional on court approval
- Objective: strengthen liquidity during restructuring
- Operations: carrier says flights and customer service remain “seamless”
No financial or traffic metrics were provided. Management reiterated its commitment to transparency and directs stakeholders to its dedicated restructuring sites for further information.
Azul S.A. (B3: AZUL4; OTC: AZULQ) ha presentato un modulo 6-K annunciando che il 31 luglio 2025 ha stipulato un Accordo di Impegno Backstop (BCA) con alcuni investitori per un incremento di capitale azionario fino a 650 milioni di dollari USA.
Le parti backstop si impegnano ad acquistare eventuali azioni non sottoscritte, garantendo la piena capitalizzazione, ma l’accordo è soggetto all’approvazione del Tribunale fallimentare degli Stati Uniti nell’ambito dei procedimenti in corso di Chapter 11. Azul presenterà una mozione per ottenere tale approvazione e informerà gli stakeholder non appena sarà fissata un’udienza.
- Aumento di capitale: fino a 650 milioni di dollari USA
- Stato: condizionato all’approvazione del tribunale
- Obiettivo: rafforzare la liquidità durante la ristrutturazione
- Operazioni: la compagnia afferma che voli e servizio clienti rimangono “senza interruzioni”
Non sono stati forniti dati finanziari o sul traffico. La direzione ha ribadito il suo impegno alla trasparenza e invita gli stakeholder a consultare i siti dedicati alla ristrutturazione per ulteriori informazioni.
Azul S.A. (B3: AZUL4; OTC: AZULQ) presentó un Formulario 6-K anunciando que el 31 de julio de 2025 firmó un Acuerdo de Compromiso Backstop (BCA) con ciertos inversores para una ampliación de capital de hasta 650 millones de dólares estadounidenses.
Las partes backstop acuerdan comprar las acciones no suscritas, garantizando la capitalización total, pero el acuerdo está sujeto a la aprobación del Tribunal de Quiebras de EE. UU. dentro de los casos en curso bajo el Capítulo 11. Azul presentará una moción para solicitar dicha aprobación e informará a las partes interesadas una vez que se programe una audiencia.
- Ampliación de capital: hasta 650 millones de dólares
- Estado: condicionado a la aprobación judicial
- Objetivo: fortalecer la liquidez durante la reestructuración
- Operaciones: la aerolínea afirma que los vuelos y el servicio al cliente permanecen “sin interrupciones”
No se proporcionaron métricas financieras ni de tráfico. La dirección reiteró su compromiso con la transparencia y dirige a los interesados a sus sitios dedicados a la reestructuración para más información.
Azul S.A. (B3: AZUL4; OTC: AZULQ)는 2025년 7월 31일 특정 투자자들과 최대 6억 5천만 달러 규모의 자본 증자에 관한 백스톱 약정 계약(BCA)을 체결했다고 Form 6-K를 통해 발표했습니다.
백스톱 참여자들은 미청약 주식을 인수하기로 합의하여 완전한 자본 조달을 보장하지만, 이 계약은 회사의 진행 중인 챕터 11 파산 절차 내에서 미국 파산 법원의 승인을 조건으로 합니다. Azul은 해당 승인을 요청하는 신청서를 제출할 예정이며, 심리가 일정이 잡히면 이해관계자들에게 통지할 것입니다.
- 자본 증자: 최대 6억 5천만 달러
- 상태: 법원 승인에 조건부
- 목적: 구조조정 중 유동성 강화
- 운영: 항공사는 항공편 및 고객 서비스가 “원활하게” 유지된다고 밝혔습니다
재무 또는 운항 지표는 제공되지 않았습니다. 경영진은 투명성에 대한 의지를 재확인하며, 추가 정보는 전용 구조조정 사이트를 참고하라고 안내했습니다.
Azul S.A. (B3 : AZUL4 ; OTC : AZULQ) a déposé un formulaire 6-K annonçant qu’au 31 juillet 2025, elle a conclu un accord d’engagement backstop (BCA) avec certains investisseurs portant sur une augmentation de capital pouvant atteindre 650 millions de dollars US.
Les parties backstop s’engagent à acheter les actions non souscrites, garantissant ainsi une capitalisation complète, mais cet accord est subordonné à l’approbation du tribunal des faillites américain dans le cadre des procédures en cours sous Chapitre 11. Azul déposera une requête en vue d’obtenir cette approbation et informera les parties prenantes dès qu’une audience sera programmée.
- Augmentation de capital : jusqu’à 650 millions de dollars US
- Statut : conditionnel à l’approbation judiciaire
- Objectif : renforcer la liquidité durant la restructuration
- Opérations : la compagnie affirme que les vols et le service client restent « sans interruption »
Aucun indicateur financier ou de trafic n’a été communiqué. La direction a réitéré son engagement envers la transparence et invite les parties prenantes à consulter ses sites dédiés à la restructuration pour plus d’informations.
Azul S.A. (B3: AZUL4; OTC: AZULQ) hat in einem Formular 6-K bekanntgegeben, dass am 31. Juli 2025 eine Backstop-Verpflichtungsvereinbarung (BCA) mit bestimmten Investoren über eine Kapitalerhöhung von bis zu 650 Millionen US-Dollar abgeschlossen wurde.
Die Backstop-Parteien verpflichten sich, nicht gezeichnete Aktien zu kaufen und somit die vollständige Kapitalisierung zu garantieren, wobei die Vereinbarung unter dem Vorbehalt der Genehmigung durch das US-Insolvenzgericht im laufenden Chapter-11-Verfahren steht. Azul wird einen Antrag auf diese Genehmigung stellen und die Stakeholder informieren, sobald eine Anhörung terminiert ist.
- Kapitalerhöhung: bis zu 650 Mio. US-Dollar
- Status: bedingt durch Gerichtsfreigabe
- Ziel: Stärkung der Liquidität während der Restrukturierung
- Betrieb: Die Fluggesellschaft gibt an, dass Flüge und Kundenservice „nahtlos“ weiterlaufen
Es wurden keine finanziellen oder Verkehrskennzahlen bereitgestellt. Das Management bekräftigte sein Engagement für Transparenz und verweist die Stakeholder auf die speziellen Restrukturierungs-Websites für weitere Informationen.
- US$650 million backstop provides a clear funding path, supporting liquidity during Chapter 11.
- Investor participation signals external confidence in Azul’s restructuring plan.
- Commitment to maintain operations and transparency may preserve customer loyalty and brand value.
- Backstop is contingent on Bankruptcy Court approval, introducing execution risk.
- Terms such as backstop fees, pricing and potential equity dilution were not disclosed.
- Company remains under Chapter 11 protection, reflecting ongoing financial distress.
Insights
TL;DR: US$650m backstop boosts liquidity outlook, signalling investor support amid Chapter 11.
The backstop agreement materially improves Azul’s prospective liquidity profile by assuring access to new equity if the planned raise is undersubscribed. A fully funded US$650 m injection would represent a meaningful buffer versus pre-petition liabilities and working-capital needs, potentially shortening restructuring timelines and preserving franchise value. While dilution is likely, equity holders benefit from reduced insolvency risk. Court approval remains the main gating factor but, in my view, the commitment reflects creditor confidence and is incrementally positive.
TL;DR: Helpful but still conditional; restructuring risk unchanged until court signs off.
The filing offers assurance of capital support yet nothing is binding until Bankruptcy Court approval, which can be contested. Backstop terms, fees and pricing were not disclosed, leaving uncertainty around dilution and recovery values. Azul continues to operate under Chapter 11, so credit risk remains. Overall effect is neutral until execution risk is removed.
Azul S.A. (B3: AZUL4; OTC: AZULQ) ha presentato un modulo 6-K annunciando che il 31 luglio 2025 ha stipulato un Accordo di Impegno Backstop (BCA) con alcuni investitori per un incremento di capitale azionario fino a 650 milioni di dollari USA.
Le parti backstop si impegnano ad acquistare eventuali azioni non sottoscritte, garantendo la piena capitalizzazione, ma l’accordo è soggetto all’approvazione del Tribunale fallimentare degli Stati Uniti nell’ambito dei procedimenti in corso di Chapter 11. Azul presenterà una mozione per ottenere tale approvazione e informerà gli stakeholder non appena sarà fissata un’udienza.
- Aumento di capitale: fino a 650 milioni di dollari USA
- Stato: condizionato all’approvazione del tribunale
- Obiettivo: rafforzare la liquidità durante la ristrutturazione
- Operazioni: la compagnia afferma che voli e servizio clienti rimangono “senza interruzioni”
Non sono stati forniti dati finanziari o sul traffico. La direzione ha ribadito il suo impegno alla trasparenza e invita gli stakeholder a consultare i siti dedicati alla ristrutturazione per ulteriori informazioni.
Azul S.A. (B3: AZUL4; OTC: AZULQ) presentó un Formulario 6-K anunciando que el 31 de julio de 2025 firmó un Acuerdo de Compromiso Backstop (BCA) con ciertos inversores para una ampliación de capital de hasta 650 millones de dólares estadounidenses.
Las partes backstop acuerdan comprar las acciones no suscritas, garantizando la capitalización total, pero el acuerdo está sujeto a la aprobación del Tribunal de Quiebras de EE. UU. dentro de los casos en curso bajo el Capítulo 11. Azul presentará una moción para solicitar dicha aprobación e informará a las partes interesadas una vez que se programe una audiencia.
- Ampliación de capital: hasta 650 millones de dólares
- Estado: condicionado a la aprobación judicial
- Objetivo: fortalecer la liquidez durante la reestructuración
- Operaciones: la aerolínea afirma que los vuelos y el servicio al cliente permanecen “sin interrupciones”
No se proporcionaron métricas financieras ni de tráfico. La dirección reiteró su compromiso con la transparencia y dirige a los interesados a sus sitios dedicados a la reestructuración para más información.
Azul S.A. (B3: AZUL4; OTC: AZULQ)는 2025년 7월 31일 특정 투자자들과 최대 6억 5천만 달러 규모의 자본 증자에 관한 백스톱 약정 계약(BCA)을 체결했다고 Form 6-K를 통해 발표했습니다.
백스톱 참여자들은 미청약 주식을 인수하기로 합의하여 완전한 자본 조달을 보장하지만, 이 계약은 회사의 진행 중인 챕터 11 파산 절차 내에서 미국 파산 법원의 승인을 조건으로 합니다. Azul은 해당 승인을 요청하는 신청서를 제출할 예정이며, 심리가 일정이 잡히면 이해관계자들에게 통지할 것입니다.
- 자본 증자: 최대 6억 5천만 달러
- 상태: 법원 승인에 조건부
- 목적: 구조조정 중 유동성 강화
- 운영: 항공사는 항공편 및 고객 서비스가 “원활하게” 유지된다고 밝혔습니다
재무 또는 운항 지표는 제공되지 않았습니다. 경영진은 투명성에 대한 의지를 재확인하며, 추가 정보는 전용 구조조정 사이트를 참고하라고 안내했습니다.
Azul S.A. (B3 : AZUL4 ; OTC : AZULQ) a déposé un formulaire 6-K annonçant qu’au 31 juillet 2025, elle a conclu un accord d’engagement backstop (BCA) avec certains investisseurs portant sur une augmentation de capital pouvant atteindre 650 millions de dollars US.
Les parties backstop s’engagent à acheter les actions non souscrites, garantissant ainsi une capitalisation complète, mais cet accord est subordonné à l’approbation du tribunal des faillites américain dans le cadre des procédures en cours sous Chapitre 11. Azul déposera une requête en vue d’obtenir cette approbation et informera les parties prenantes dès qu’une audience sera programmée.
- Augmentation de capital : jusqu’à 650 millions de dollars US
- Statut : conditionnel à l’approbation judiciaire
- Objectif : renforcer la liquidité durant la restructuration
- Opérations : la compagnie affirme que les vols et le service client restent « sans interruption »
Aucun indicateur financier ou de trafic n’a été communiqué. La direction a réitéré son engagement envers la transparence et invite les parties prenantes à consulter ses sites dédiés à la restructuration pour plus d’informations.
Azul S.A. (B3: AZUL4; OTC: AZULQ) hat in einem Formular 6-K bekanntgegeben, dass am 31. Juli 2025 eine Backstop-Verpflichtungsvereinbarung (BCA) mit bestimmten Investoren über eine Kapitalerhöhung von bis zu 650 Millionen US-Dollar abgeschlossen wurde.
Die Backstop-Parteien verpflichten sich, nicht gezeichnete Aktien zu kaufen und somit die vollständige Kapitalisierung zu garantieren, wobei die Vereinbarung unter dem Vorbehalt der Genehmigung durch das US-Insolvenzgericht im laufenden Chapter-11-Verfahren steht. Azul wird einen Antrag auf diese Genehmigung stellen und die Stakeholder informieren, sobald eine Anhörung terminiert ist.
- Kapitalerhöhung: bis zu 650 Mio. US-Dollar
- Status: bedingt durch Gerichtsfreigabe
- Ziel: Stärkung der Liquidität während der Restrukturierung
- Betrieb: Die Fluggesellschaft gibt an, dass Flüge und Kundenservice „nahtlos“ weiterlaufen
Es wurden keine finanziellen oder Verkehrskennzahlen bereitgestellt. Das Management bekräftigte sein Engagement für Transparenz und verweist die Stakeholder auf die speziellen Restrukturierungs-Websites für weitere Informationen.
FORM 6 - K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
As of August 1, 2025
TENARIS, S.A.
(Translation of Registrant's name into English)
26, Boulevard Royal, 4th floor
L-2449 Luxembourg
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.
Form 20-F ✓ Form 40-F ___
The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris’s Weekly Report (July 28, 2025 – August 1, 2025) on the First Tranche of Tenaris Share Buyback Program.
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.
Date: August 1, 2025
Tenaris, S.A.
By: /s/ Giovanni Sardagna
Giovanni Sardagna
Investor Relations Officer
 |
 |
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
Weekly Report (July 28, 2025 – August 1, 2025) on the First Tranche of Tenaris Share Buyback Program.
Luxembourg, August 1, 2025. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its First Tranche of the USD1.2 billion Share Buyback Program announced on June 6, 2025, covering up to USD 600 million to be executed in the open market, it has repurchased the following ordinary shares from July 28, 2025 to (and including) August 1, 2025:
From July 28, 2025 to (and including) August 1, 2025, the Company has purchased a total of 1,692,262 ordinary shares for a total consideration of €26,477,016, equivalent to USD30,459,724.
As of August 1, 2025, the Company held in treasury 22,720,565 ordinary shares equal to 2.12% of the total issued share capital.
Tenaris intends to cancel treasury shares purchased under the Programs in due course.
Details of the above transactions, are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program.
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
FAQ
How much capital is Azul (AZUL) aiming to raise under the new backstop agreement?
Why does Azul need Bankruptcy Court approval for the backstop commitment?
Will Azul’s flight operations be affected during the restructuring?
Where can stakeholders find detailed information about Azul’s Chapter 11 case?
What tickers does Azul’s stock trade under?
When was the Backstop Commitment Agreement signed?
