HAMILTON, Bermuda, Sept. 25, 2020 /PRNewswire/ --
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG
KONG OR ANY OTHER JURISDICTION IN WHICH THE RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY
SECURITIES DESCRIBED HEREIN.
Reference is made to Borr Drilling Limited's ("Borr Drilling" or
the "Company") (NYSE: "BORR", OSE: "BDRILL") announcement dated
22 September 2020 relating to the
contemplated equity offering of USD
40-50 million in new depository receipts (the "Equity
Offering").
Borr Drilling is currently in discussions with its lenders to
improve the concessions previously announced and has therefore
decided to extend the application period for the Equity Offering to
08:00 CET/2:00
am EST on 29 September 2020.
The Company may, in its own discretion, extend or shorten the
application period at any time and for any reason.
This information is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
Important note
This announcement is not being made in or into Canada, Australia, Japan, Hong
Kong or in any other jurisdiction where it would be
prohibited by applicable law. The shares referred to herein have
not been registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States, except pursuant to an
applicable exemption from registration.
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"may", "expect", "may", "will" and similar expressions and include
statements relating to the contemplated Equity Offering,
discussions with lenders and the extension of the application
period. Such forward-looking statements are subject to risks,
uncertainties, contingencies and other factors could cause actual
events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein,
including risks related to the Company's ability to complete the
contemplated Equity Offering on contemplated terms or at all, the
outcome of discussions with lenders and other factors described in
the section entitled "Risk Factors" in our filings with the
Securities and Exchange Commission. Such risks, uncertainties,
contingencies and other factors could cause actual events to differ
materially from the expectations expressed or implied by the
forward-looking statements included herein. These forward-looking
statements are made only as of the date of this release. We do not
undertake to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
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SOURCE Borr Drilling Limited