Borr Drilling Limited announced the second and final settlement of its previously announced US public offering of 69,444,444 US common shares of the Company, at a price per share of $3.60 per common share and an additional 6,918,627 common shares for which the underwriters have exercised their option to purchase at the public offering price of $3.60 per share, minus underwriting discounts. The total gross proceeds of the offering, including the option shares, is $275 million.
The total number of shares issued in the offering was 76,363,071, divided in 41,666,667 common shares which settled on August 16, 2022, and 34,696,404 shares (including the additional common shares issued pursuant to the underwriters’ option) which settled on August 26, 2022.
No securities in the offering were offered or will be listed on Oslo Stock Exchange.
DNB Markets, Clarksons Securities, Pareto Securities, ABG Sundal Collier ASA, Arctic Securities AS, Fearnley Securities and SpareBank 1 Markets are the book-running managers for the offering. Cleaves Securities AS is a co-manager for the offering.
Following the settlement of this offering, the Company’s issued share capital increased to $22,926,359.80, divided into 229,263,598 shares, each with a nominal value of $0.10 per share.
The offering referred to herein was made pursuant to an effective automatic shelf registration statement, previously filed by the Company with the Securities and Exchange Commission (“SEC”) on July 26, 2022. The offering of the common shares was made only by means of a prospectus and a related prospectus supplement. A final prospectus supplement relating to the offering was filed with the SEC on August 11, 2022. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no
