OSLO, Norway, Sept. 30, 2020 /PRNewswire/ -- Reference is made
to Borr Drilling Limited's ("Borr Drilling") (NYSE: "BORR") (OSE:
"BDRILL") stock exchange announcements of September 30, 2020, relating to the successfully
completed equity offering through the subscription and allocation
of 51,886,793 new depositary receipts (the "Offer Shares"),
representing the beneficial interests in the same number of the
Borr Drilling's underlying common shares, each at a subscription
price of USD 0.53 per Offer Share,
equivalent to NOK 5.01 per Offer
Share (the "Subscription Price"), raising gross proceeds of
USD 27.5 million (the "Equity Offering"). The Offer Shares
will be listed on Oslo Stock Exchange.The following primary
insiders of Borr Drilling have subscribed for and been
conditionally allocated the following Offer Shares at the
Subscription Price:
Paal Kibsgaard, Chairman of the
Borr Drilling's Board of Directors: 120,000 Offer Shares. After
delivery, Kibsgaard will own 452,069 shares in the
Company.
Companies affiliated with Director and Vice Chairman
Tor Olav Trøim: 4,579,377 Offer
Shares. After delivery, Trøim and his affiliated parties will
represent an ownership in Borr Drilling of 14,210,719 shares in the
Company, or 6.8% of the outstanding shares.
Patrick Schorn, Chief Executive
Officer of Borr Drilling: 981,000 Offer Shares. After delivery, Mr.
Schorn will own 1,000,000 shares in the Company.
September 30, 2020
September 30, 2020
Hamilton, Bermuda
This information is subject to disclosure requirements pursuant
to Sections 4-2 and 5-12 of the Norwegian Securities Trading
Act.
For further information, please contact:
Magnus Vaaler
VP Investor Relations and Treasury
+47-22-48-30-00
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SOURCE Borr Drilling Limited