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Convertible Instruments
 12 Months Ended
Dec. 31, 2023
Disclosure of detailed information about borrowings [abstract]  
Convertible Instruments CONVERTIBLE DEBT INSTRUMENTS
20.1Accounting policies
As required by IFRS 9 – Financial Instruments, the right to convert convertible debentures into shares was measured at fair value through profit or loss as it is an embedded derivative.
20.2Renegotiations
In July 2023, the Company concluded the renegotiation of the convertible debentures, with a principal value of R$1,745,900, changing the maturity date from October 2025 to October 2028, at a nominal rate of 6.0% p.a. to 12.3% p.a. and the conversion price from R$32.26 to R$22.78.
In accordance with IFRS 9 – Financial Instruments, the Company concluded that the renegotiation of the debentures falls within the scope of debt extinguishment. Therefore, the values recorded previously were extinguished and a new debt was recorded. For this reason, any costs or fees incurred were recognized in the statement of operations.
Due to the modification of the debt, the amount of R$352,430, composed of the effect of the restructuring of R$233,068 (expenses of R$346,555 related to the extinction and reconstitution of the conversion right and income of R$113,487 related to the extinction and reconstitution of the debt) and R$119,362 of new costs incurred, was recorded in the statement of operations, under the line “Restructuring of debentures”.
The balance presented below debentures includes the right to convert the debt into Company shares in the amount of R$488,775 (R$116,971 as of December 31, 2022).
20.3Movement of convertible debt instruments
DescriptionAverage nominal rate p.a.
Effective rate(a)
MaturityDecember 31, 2022Variation of conversion rightPayment of principalPayment of interestInterest incurredForeign currency exchangeRestructuring resultAmortized costDecember 31, 2023
In foreign currency – US$
Debentures12.3 %12.3 %Oct-281,403,719 25,249 (542,496)(100,928)242,608 (62,232)233,068 2,622 1,201,610 
Total in R$1,403,719 25,249 (542,496)(100,928)242,608 (62,232)233,068 2,622 1,201,610 
Current14,789 25,807 
Non-current1,388,930 1,175,803 
(a)Does not consider the conversion right.
DescriptionAverage nominal rate p.a.
Effective rate(a)
MaturityDecember 31, 2021Variation of conversion rightPayment of interestInterest incurredForeign currency exchangeAmortized costDecember 31, 2022
In foreign currency – US$
Debentures
6.0 % a 7.5 %
6.6 %Oct-251,873,001 (519,815)(105,891)231,103 (79,212)4,533 1,403,719 
Total in R$1,873,001 (519,815)(105,891)231,103 (79,212)4,533 1,403,719 
Current39,124 14,789 
Non-current1,833,877 1,388,930 
(a)Does not consider the conversion right.
20.4Schedule of amortization
DescriptionDecember 31, 2023December 31, 2022
2023— 14,789 
202425,807 — 
2025— 1,388,930 
After 20261,175,803 — 
1,201,610 1,403,719 
Current25,807 14,789 
Non-current1,175,803 1,388,930