#Bermuda #Hamilton #common shares #SEC #Borr Drilling

Borr Drilling Completes First Settlement of Offering

In a significant move for investors and the energy sector, Borr Drilling Limited announced the successful conclusion of the first settlement of its public offering of common shares on July 7, 2025. The offering, which encompasses 50 million common shares priced at $2.05 each, has generated total gross proceeds of approximately $102.5 million.

The initial settlement saw 30 million common shares sold, with the remainder expected to settle on August 7, 2025, contingent upon shareholder approval for increasing the authorized share capital by 50 million shares at a special general meeting scheduled for August 6, 2025.

These funds are earmarked for general corporate purposes, which may include servicing debt, making capital expenditures, and enhancing working capital—an essential strategy to fortify Borr Drilling's position in the competitive oil and gas sector. The company’s capacity to pivot its financial structure with this offering is a powerful signal to the markets regarding its commitment to sustainable growth.

Noteworthy financial institutions, including DNB Carnegie, Clarksons Securities, Citigroup, and Goldman Sachs & Co. LLC, served as joint bookrunners for this share offering, signaling a strong endorsement from seasoned financial players.

Upon the conclusion of this first settlement, Borr Drilling's outstanding share capital has increased by $3 million, now totaling $26,622,486.6, which divides into 266,224,866 shares, each carrying a nominal value of $0.10. This adjustment is crucial for reflecting the company's enhanced market position.

The offering was carried out under an effective automatic shelf registration statement that the company had previously filed with the Securities and Exchange Commission (SEC) on April 11, 2025. It’s worth noting that participation in the offering was conducted solely through a prospectus and an associated prospectus supplement. Interested parties can access these documents for free on the SEC’s EDGAR database or by reaching out to DNB Markets Inc.

While this public offering provides a solid foundation for Borr Drilling's future endeavors, it's essential to approach the accompanying forward-looking statements with caution. Readers should be aware that several risks and uncertainties could impact the actual outcomes, as outlined in filings with the SEC. This includes market conditions and the stipulations surrounding the second settlement of the offering.

Borr Drilling remains focused on advancing its growth objectives, reflecting a proactive stance in navigating the ever-evolving energy landscape.

For more information, stakeholders can contact Magnus Vaaler, the Chief Financial Officer, directly at +44 1224 289208. This transparency not only fosters trust but also encourages engagement from investors who seek a deeper understanding of the company’s strategies and future projections.

Key Takeaways

• - Borr Drilling's first settlement marks a crucial financial milestone with $102.5 million raised.
• - Continuation of the offering hinges on shareholder approval and market conditions.
• - The capital raised targets corporate initiatives that could enhance the company’s growth pathway.

As this situation develops, all eyes will remain on Borr Drilling, watching how it leverages these newfound resources to entrench its standing in the oil and gas sector. Investors, analysts, and market watchers will undoubtedly follow the company's next steps closely, anticipating how it fulfills its growth promise in the coming years.