Business
Paratus Energy Services Ltd. Announces Cash Tender Offer for up to $17,607,991 Senior Secured Notes due 2026
Reference is made to the announcement made by Paratus Energy Services Ltd., (ticker: PLSV) ("Paratus" or the "Company") on 25 September 2025 regarding the successful sale of shares in Archer Limited by Paratus JU Newco Bermuda Limited, a company wholly owned by Paratus, which raised gross proceeds of approximately $49 million (the "Announcement") (the "Archer Transaction").
About this update from Paratus Energy Services Ltd.
[{"type":"text","content":"HAMILTON, Bermuda, Oct. 15, 2025 /PRNewswire/ -- Reference is made to the announcement made by Paratus Energy Services Ltd., (ticker: PLSV) ("Paratus" or the "Company") on 25 September 2025 regarding the successful sale of shares in Archer Limited by Paratus JU Newco Bermuda Limited, a company wholly owned by Paratus, which raised gross proceeds of approximately $49 million (the "Announcement") (the "Archer Transaction").","length":475,"tagName":"p"},{"type":"text","content":"Further to the Announcement, the Company today announces that it will commence an offer to purchase for cash up to an aggregate principal amount of $17,607,991 Senior Secured Notes due 2026 (CUSIPs 81173J AC3, G8000A AH6 and 81173J AD1; ISINs US81173JAC36, USG8000AAH61 and US81173JAD19) (the "Notes") governed by that Amended and Restated Indenture, dated as of January 20, 2022 (as subsequently amended and supplemented, the "Indenture") at the repurchase price of 103% of the principal amount of such Notes ("Tender Offer Consideration"), plus accrued and unpaid interest with respect to such Notes to, but not including, the date of repurchase ("Accrued Interest") (the "Tender Offer").","length":740,"tagName":"p"},{"type":"text","content":"The Tender Offer is being made upon the terms and subject to the conditions described in the Offer to Purchase, dated 15 October 2025 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), which sets forth a detailed description of the Tender Offer. The Offer to Purchase constitutes the notice of commencement of the Tender Offer in respect of the Archer Transaction as required pursuant to Section 4.10(e) and Section 4.10(i)(iii) of the Indenture.","length":488,"tagName":"p"},{"type":"text","content":"The Tender Offer for the Notes will expire at 5:00 p.m., New York City time, on November 14, 2025, or any other date and time to which the Company extends the Tender Offer (such date and time, as it may be extended with respect to the Tender Offer, the "Expiration Date"), unless earlier terminated. Holders of Notes must validly tender and not validly withdraw their Notes prior to or at 5:00 p.m., New York City time, on the Expiration Date, and the holder's Notes must be accepted f...