Borr Drilling Finalizes Public Offering of 50 Million Shares Raising Over $100 Million
On July 3, 2025, Borr Drilling Limited, trading under the NYSE ticker BORR, announced the pricing of a significant public offering of common shares. The offering consists of 50 million common shares priced at $2.05 each, aimed at raising a total of $102.5 million. This move is pivotal for the company as it seeks to bolster its financial footing for various corporate purposes, which include but are not limited to, debt servicing, capital expenditures, and providing working capital.
The structure of the share issuance is set in two primary settlements. The first settlement will involve the distribution of 30 million shares anticipated around July 7, 2025. Meanwhile, the remaining 20 million shares are scheduled for the second settlement on August 7, 2025, contingent upon the outcomes of a special general meeting (SGM) slated for August 6, 2025. This meeting will approve the requisite authorization for the additional shares tied to this offering.
A notable point to emphasize is that if the SGM condition is not met, the second settlement shares will not be issued; however, the first settlement remains unaffected. Such structured issuance and adherence to procedural requirements illustrate Borr Drilling's meticulous approach to financial management and compliance with regulatory frameworks.
Borr Drilling’s decision to utilize proceeds from this offering for general corporate purposes indicates a proactive stance toward financial health and long-term strategic planning. The involvement of top-tier financial institutions such as DNB Carnegie, Clarksons Securities, Citigroup, and Goldman Sachs & Co. LLC as joint bookrunners underscores the transaction's significance and the confidence these firms have in the company’s prospects.
This offering was executed under an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on April 11, 2025, following all necessary protocols. Investors are reminded that the offering, made only through a prospectus and its supplements, is being conducted legally under U.S. securities laws, ensuring utmost transparency and protection for participants.
Importantly, this announcement also includes forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements pertain to expected timelines, conditions of share settlements, and intended use of the raised capital, encompassing various risks and uncertainties that could affect actual results.
In summary, Borr Drilling Limited is strategically positioning itself to leverage this public offering to enhance its capital structure and support future growth initiatives. As markets evolve, securing this level of funding could provide the company with increased flexibility to navigate challenges ahead while capitalizing on potential opportunities for expansion within the oil drilling sector. Investors and stakeholders are encouraged to remain informed of developments following the August meeting and the company's directional strategy moving forward.
For further inquiries, interested parties may contact Magnus Vaaler, CFO of Borr Drilling, at +44 1224 289208 to discuss this offering or related investment opportunities.
The structure of the share issuance is set in two primary settlements. The first settlement will involve the distribution of 30 million shares anticipated around July 7, 2025. Meanwhile, the remaining 20 million shares are scheduled for the second settlement on August 7, 2025, contingent upon the outcomes of a special general meeting (SGM) slated for August 6, 2025. This meeting will approve the requisite authorization for the additional shares tied to this offering.
A notable point to emphasize is that if the SGM condition is not met, the second settlement shares will not be issued; however, the first settlement remains unaffected. Such structured issuance and adherence to procedural requirements illustrate Borr Drilling's meticulous approach to financial management and compliance with regulatory frameworks.
Borr Drilling’s decision to utilize proceeds from this offering for general corporate purposes indicates a proactive stance toward financial health and long-term strategic planning. The involvement of top-tier financial institutions such as DNB Carnegie, Clarksons Securities, Citigroup, and Goldman Sachs & Co. LLC as joint bookrunners underscores the transaction's significance and the confidence these firms have in the company’s prospects.
This offering was executed under an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on April 11, 2025, following all necessary protocols. Investors are reminded that the offering, made only through a prospectus and its supplements, is being conducted legally under U.S. securities laws, ensuring utmost transparency and protection for participants.
Importantly, this announcement also includes forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements pertain to expected timelines, conditions of share settlements, and intended use of the raised capital, encompassing various risks and uncertainties that could affect actual results.
In summary, Borr Drilling Limited is strategically positioning itself to leverage this public offering to enhance its capital structure and support future growth initiatives. As markets evolve, securing this level of funding could provide the company with increased flexibility to navigate challenges ahead while capitalizing on potential opportunities for expansion within the oil drilling sector. Investors and stakeholders are encouraged to remain informed of developments following the August meeting and the company's directional strategy moving forward.
For further inquiries, interested parties may contact Magnus Vaaler, CFO of Borr Drilling, at +44 1224 289208 to discuss this offering or related investment opportunities.
Topics Financial Services & Investing）
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