Borr Drilling Sets Price for Upcoming Public Offering of Shares

Borr Drilling Announces Public Offering

Borr Drilling Limited (NYSE: BORR) has officially priced its previously disclosed public offering of common shares. The company will offer a total of 21 million shares at a price of $4.00 per share, aiming to generate gross proceeds of $84 million. This significant capital raising initiative is part of Borr's strategy to enhance its operational capabilities and explore new opportunities in the market.

In a detailed announcement, the company specified that the funds obtained from this equity offering are earmarked for strategic purposes, which include the possible acquisition of five premium jack-up rigs, along with various general corporate applications. These may cover servicing existing debt, capital investments, and funding operational resources. This step is pivotal for the company as it seeks to strengthen its position within the industry amid an evolving market landscape.

The transaction is expected to be completed on or about December 10, 2025, with DNB Carnegie, Inc. and Clarksons Securities AS serving as the joint global coordinators and bookrunners for the offering. Other notable financial institutions involved in this deal include Citigroup Global Markets, Fearnley Securities, and Pareto Securities, which are contributing as joint bookrunners, alongside BTIG and Morgan Stanley who are acting as co-managers.

Borr Drilling's recent announcement follows an effective shelf registration that the company filed with the Securities and Exchange Commission (SEC) back on April 11, 2025. The offering is being conducted in accordance with this established framework, and interested investors are encouraged to review the related prospectus and accompanying documents available through the SEC's EDGAR database or by contacting their underwriting team.

Furthermore, Borr has initiated a process to list its shares on the Euronext Growth Oslo, marking a strategic move towards re-listing on the Oslo Stock Exchange (OSE) as part of its growth strategy. Trading on the Euronext Growth Oslo is projected to commence on December 19, 2025, allowing participants of the equity offering to convert shares to Norwegian VPS and trade accordingly once listed.

Upon the successful completion of the re-listing, Borr Drilling aims to maintain a dual listing on both the NYSE and OSE, with the NYSE as its primary exchange. This strategic approach underscores the company's intent to broaden its shareholder base and enhance visibility within the global investment community.

This public offering is crucial for Borr Drilling as it positions itself to better navigate the competitive drilling sector. With the anticipated acquisitions and improvements in capital structure, the company demonstrates a proactive stance towards growth and innovation in a challenging environment. Investors and analysts alike will be closely monitoring these developments as the company embarks on its ambitious roadmap for the upcoming years.

As with any forward-looking statements provided, potential investors are reminded to approach these announcements with due diligence. The inherent risks associated with market movements, along with the company's operational execution, could significantly influence outcomes. Borr Drilling is dedicated to transparency and will continue to provide updates as progress is made in these endeavors, ensuring stakeholders remain informed.

For any inquiries, the company directs questions to CFO Magnus Vaaler at +44 1224 289208, thereby fostering open communication regarding this major undertaking.

In summary, Borr Drilling’s public offering represents not just a financial maneuver but a robust strategy aimed at securing its future in the drilling industry. With an eye on expansion and operational efficiency, the company is on a mission to reinforce its market position and deliver value to shareholders moving forward.