Borr Drilling Limited - capital increase in the Registry of Members

Rhea-AI Summary

Borr Drilling Limited announces a capital increase in the registry of members following a private placement with gross proceeds of $50 million. The issued share capital is increased by $752,283.80 to $26,408,039.10, divided into 264,080,391 shares.

Positive

• Borr Drilling Limited successfully completed a private placement, raising $50 million in gross proceeds.
• The capital increase resulted in the issued share capital rising by $752,283.80 to $26,408,039.10.
• The private placement allocated 7,522,838 offer shares to investors.

Negative

• None.

HAMILTON, Bermuda, Oct. 26, 2023 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) and (OSE: BORR) refers to the stock exchange releases on 23^rd and 24^th October 2023 related to the private placement with gross proceeds of USD 50 million (the "Private Placement").

To arrange for a DVP settlement to the investors who were allocated any of the 7,522,838 offer shares in the Private Placement, estimated on 26 October 2023, of immediately tradeable shares, the Company has today, arranged the shares to be legally and validly issued and fully paid-up in the Company's Registry of Members, pursuant to a prefunding agreement with the managers in the Private Placement.

Following the preparatory issue, the Company's issued share capital is increased by $752,283.80 to $26,408,039.10, divided into 264,080,391 shares, each with a nominal value of $0.10 per share.

October 26, 2023

Hamilton, Bermuda

The Board of Directors

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

CONTACT:

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

 

View original content:https://www.prnewswire.com/news-releases/borr-drilling-limited--capital-increase-in-the-registry-of-members-301968990.html

SOURCE Borr Drilling Limited

FAQ

What is the purpose of the private placement?

The private placement aimed to raise funds for Borr Drilling Limited.

How much money was raised in the private placement?

The private placement raised $50 million in gross proceeds.

How many offer shares were allocated in the private placement?

A total of 7,522,838 offer shares were allocated in the private placement.

What is the new issued share capital after the capital increase?

The issued share capital increased by $752,283.80 to $26,408,039.10.

What is the nominal value per share?

Each share has a nominal value of $0.10.