Business
Borr Drilling Announces Pricing of Public Offering of Common Shares
Borr Drilling Limited (NYSE: BORR) (the "Company") announces today that it has priced its previously announced offering of 21 million common shares at a price of $4.00 per share for total gross proceeds of $84 million (the "Equity Offering").
About this update from Borr Drilling Limited
[{"type":"text","content":"HAMILTON, Bermuda, Dec. 9, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (the "Company") announces today that it has priced its previously announced offering of 21 million common shares at a price of $4.00 per share for total gross proceeds of $84 million (the "Equity Offering").","length":310,"tagName":"p"},{"type":"text","content":"The Company plans to use the proceeds from the Equity Offering, together with proceeds from a concurrent debt offering, seller financing and, if necessary, available cash, for the potential acquisition of five premium jack-up rigs and for general corporate purposes, which may include debt service, capital expenditures, funding of working capital and potential mergers and acquisitions. It is expected that delivery of the common shares offered in the offering will be made against payment therefore on or around December 10, 2025. DNB Carnegie, Inc. and Clarksons Securities AS are joint global coordinators and bookrunners, Citigroup Global Markets, Inc., Fearnley Securities AS and Pareto Securities AS are joint bookrunners, and BTIG, LLC and Morgan Stanley & Co. LLC are co-managers for the Equity Offering.","length":817,"tagName":"p"},{"type":"text","content":"The Equity Offering was made pursuant to an effective shelf registration statement which has been filed by the Company with the Securities and Exchange Commission ("SEC") on April 11, 2025. The Equity Offering was made only by means of a prospectus and a related prospectus supplement. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, by contacting DNB Carnegie, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: [email protected].","length":684,"tagName":"p"},{"type":"text","content":"As previously communicated, the Company has started the process to list its shares at the Euronext Growth Oslo, as a first step towards a re-listing on the Oslo Stock Exchange ("OSE"). Following satisfaction of customary listing requirements, the Company's shares are expected to begin trading on the Euronext Growth Oslo on December 19, 2025. Participants in the Equity Offeri...