Business
Transocean Ltd. Announces Pricing of Upsized Public Offering of Shares
STEINHAUSEN, Switzerland, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today the pricing of an underwritten public offering of 125,000,000 Transocean shares, par value $0.10, at a public offering price of $3.05 per share. The offering reflects an increase from the 100,000,000 Transocean shares originally proposed to be sold. The gross proceeds to Transocean from the offering, before deducting underwriting discounts and commissions and offering expenses,
About this update from Transocean Ltd (switzerland)
[{"type":"text","content":"STEINHAUSEN, Switzerland, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today the pricing of an underwritten public offering of 125,000,000 Transocean shares, par value $0.10, at a public offering price of $3.05 per share. The offering reflects an increase from the 100,000,000 Transocean shares originally proposed to be sold. The gross proceeds to Transocean from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $381,250,000. All of the shares subject to the offering are being sold by Transocean. In addition, Transocean has granted the underwriters a 30-day option to purchase up to an additional 18,750,000 shares in the offering at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 26, 2025, subject to the satisfaction of customary closing conditions.","length":947,"tagName":"p"},{"type":"text","content":"Citigroup and Morgan Stanley are acting as joint book-running managers for the offering. DNB Carnegie, Goldman Sachs & Co. LLC and Wells Fargo Securities are also acting as joint book-running managers for the offering. SB1 Markets is acting as a co-manager for the offering.","length":278,"tagName":"p"},{"type":"text","content":"Transocean intends to use the net proceeds from the offering for the repayment or redemption of indebtedness, including the repayment or redemption of a portion of the $655 million aggregate principal amount of the 8.00% Senior Notes due February 2027 issued by Transocean International Limited, a wholly owned subsidiary of Transocean, to the extent such principal is not otherwise refinanced, repaid or redeemed. Any proceeds from the offering that are not used promptly for such purposes will be used for general corporate purposes.","length":535,"tagName":"p"},{"type":"text","content":"Transocean is offering the shares pursuant to a shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) and became automatically effective on July 1, 2024. This offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering is expected to be filed w...