Cosan SA ADR

Cosan S.A. has formally notified the New York Stock Exchange of its intention to voluntarily delist its American Depositary Shares, each representing four common shares, from the NYSE. The decision, adopted by the company's Board of Directors on August 14, 2026, is part of an effort to simplify and optimize its capital structure, reduce costs, and focus on strategically relevant business areas. Cosan intends to file Form 25 with the U.S. Securities and Exchange Commission on September 8, 2026, with the last day of ADS trading on the NYSE expected to be September 18, 2026. The company will maintain its common share listing on the Novo Mercado segment of B3 and will remain registered under the U.S. Securities Exchange Act of 1934, complying with its reporting obligations. Cosan has not arranged for listing of the ADSs on another exchange and reserves the right to delay or withdraw the filings.

Cosan reported a net loss of R$1.6 billion for the first quarter of 2026, an improvement from the R$1.8 billion loss in the same period last year. The results included R$1 billion in costs from early bond prepayments, offset by improved performance across the company's investment portfolio. Net debt expanded to R$11.5 billion, an 18% increase from the previous quarter, driven by lower dividend inflows and one-time debt management payments, though it was down 34% from Q1 2025 due to prior capitalization efforts. Adjusted EBITDA grew in several segments, with Rumo and Compass reporting gains of 7% and 2% respectively, while the Debt Service Coverage Ratio declined to 0.4x.