Borr Drilling Limited Finalizes Public Offering of Common Shares Worth $84 Million

Borr Drilling Completes Successful Equity Offering

Borr Drilling Limited has officially settled a public offering that has garnered significant attention in the market. Announced publicly on December 10, 2025, the offering involved 21 million common shares priced at $4.00 each, resulting in total gross proceeds of $84 million. This strategic move demonstrates Borr Drilling's commitment to enhancing its operational capabilities through targeted financial maneuvers.

The funds raised from this equity offering are earmarked for acquiring five premium jack-up rigs, a critical expansion to their existing fleet. Additionally, the proceeds will be utilized for various corporate needs, including debt servicing, capital expenditures, and potentially funding mergers and acquisitions, which are pivotal for maintaining competitive advantage in the drilling sector.

Financial Strategy and Collaborators

Borr Drilling is leveraging the expertise of several financial institutions in this endeavor. DNB Carnegie, Inc. and Clarksons Securities AS serve as joint global coordinators and bookrunners for the offering. Meanwhile, Citigroup Global Markets, Inc., Fearnley Securities AS, and Pareto Securities AS are positioned as joint bookrunners. The support of BTIG, LLC and Morgan Stanley Co., LLC as co-managers further solidifies the robust financial backing for this effort.

The offering was executed under an effective shelf registration statement that Borr Drilling previously filed with the Securities and Exchange Commission on April 11, 2025. This strategic registration facilitates smoother capital raising efforts for the company, illustrating a well-planned approach to compliance and investor engagement. Stakeholders wishing to view the prospectus can access it freely via EDGAR on the SEC's website or contact DNB Carnegie's compliance department for additional information.

Market Outlook and Forward-Looking Statements

While the immediate focus is on the securement of additional rigs, this capital raising effort is part of Borr Drilling's broader strategy to enhance its market position. Executives at the firm are optimistic about the ventures that these funds may enable, but also caution investors regarding the inherent risks. These forward-looking statements are crucial for investors as they highlight potential challenges and uncertainties that may affect the outcome of planned projects. Borr Drilling management emphasizes that while plans are in place, actual outcomes could differ significantly due to various factors.

As the company moves forward, stakeholders remain keenly aware of market dynamics and the competitive landscape of the energy sector. With the oil and gas industry facing fluctuating conditions, Borr Drilling’s proactive steps are pivotal in positioning itself for sustainable growth and operational excellence.

Conclusion

The successful completion of this public offering marks a significant milestone for Borr Drilling Limited. By securing financial resources to enhance its rig fleet and modernize operations, the company is better positioned for future challenges and opportunities in the competitive drilling market. Investors and industry observers alike will undoubtedly watch closely as Borr Drilling continues to navigate the evolving landscape of the energy sector and execute on its strategic vision.