HAMILTON, Bermuda, Jan. 28, 2022 /PRNewswire/ -- Reference is made
to Borr Drilling Limited's (the "Company") (NYSE and OSE: "BORR")
announcement 28 December 2021
relating to the subscription and allocation of a total of
13,333,333 new depository receipts (the "Offer Shares"), at a price
of $2.25, raising gross proceeds of
$30 million (the "Equity Offering")
related to refinancing and deferring a combined $1.4 billion debt maturities and delivery
instalments from 2023 to 2025 with its shipyards.
The Company has today met all the remaining conditions listed in
its announcement on 28 December 2021
for the Equity Offering. The settlement of the Offer Shares is
expected to be completed on 31 January
2022. The Offer Shares will be listed on the Oslo Stock
Exchange ("OSE") upon delivery. No Offer Shares will be offered or
sold in transactions on the NYSE.
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"expect", "will" and similar expressions and include statements
relating to the consents obtained from creditors including the
conditions to such consents, and statements relating to the Equity
Offering, conditions relating to completion of the offering and
expected timing of closing of the offering. 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 meeting the
conditions for and completing the Equity Offering, risks relating
to the consents obtained and meeting the conditions for such
consents, the outcome of the discussions with creditors, and
whether agreements will be reached by the dates mentioned herein or
at all and the terms of any such agreements 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.
This announcement does not constitute an offer to buy, sell or
subscribe for any securities described herein. The Equity Offering
has not been and will not be registered under the Securities Act of
1933 and the Offer Shares may not be offered or sold in
the United States absent
registration or an applicable exemption from registration
requirements.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---conditions-for-equity-raise-completed,c3494502
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