Borr Drilling Limited - BORR STOCK NEWS

Borr Drilling Limited (NYSE: BORR) will announce its fourth quarter 2021 financial results on February 16, 2022. A conference call and webcast are scheduled for 14:00 CET (9:00 AM New York Time). The report and presentation will be accessible from the Investor Relations section on the company's website. Participants can join via webcast or telephone. A Q&A session will follow the presentation, and a replay will be available until March 9, 2022.

Borr Drilling Limited (NYSE: BORR) announced the successful completion of conditions for its recent equity offering of 13,333,333 new depository receipts at $2.25 per share, raising $30 million. This funding will aid in refinancing $1.4 billion in debt maturities and delivery installments, pushing deadlines from 2023 to 2025. The settlement is set for January 31, 2022, with shares listed on the Oslo Stock Exchange. The press release contains forward-looking statements, highlighting potential risks and uncertainties surrounding the offering.

Borr Drilling Limited announced on Jan. 26, 2022 that it has received consent from creditors including Hayfin and DNB Bank to amend agreements for deferring debt maturities and delivery installments from 2023 to 2025. The company raised USD 30 million through a recent equity offering of 13,333,333 new depository receipts. Borr Drilling plans to negotiate refinancing for the Facilities and 3.875% Convertible Bonds due 2023 by March 31, 2022, with completion targeted for June 30, 2022.

Borr Drilling Limited (NYSE: BORR) has secured preliminary agreements with its main creditors to refinance and defer $1.4 billion in debt maturities and delivery instalments to 2025. In exchange, the company will make cash repayments totaling $51 million in 2022-2023. This restructuring aims to mitigate financial pressures, enabling 18 operational rigs to enhance Adjusted EBITDA beyond $20 million reported in Q3 2021. Board approvals from the creditors are pending, with an expected new equity raise of $30 million to cover immediate repayments.

Borr Drilling Limited will present its third quarter 2021 results via a webcast/conference call on November 5, 2021, at 14:00 CET (9:00 AM New York time). Participants can access the presentation through a dedicated link or dial in with specific conference ID details. A Q&A session will follow the presentation, offering participants an opportunity to engage directly. The presentation materials, including a PDF of the Q3 results, are available for download. For additional information, visit the company’s press release on Cision.

Borr Drilling Limited (NYSE: BORR) announced an investor presentation on July 7, 2021, highlighting key updates and future plans. The management will host a conference call and webcast at 15:00 CET (9:00 AM New York Time) on the same day. Participants can join via a provided link or call in using specific numbers. A Q&A session will follow the presentation. A replay of the event will be accessible until August 4, 2021, via the company's website. The investor presentation is also available for download.

Borr Drilling Limited (NYSE: BORR) announced an 'at-the-market program' that allows for the sale of up to $40 million in common shares through Clarksons Platou Securities, Inc. The sales can occur at market prices on the New York Stock Exchange. While the Board does not plan to sell shares immediately, this program provides future flexibility. Proceeds will be used for general corporate purposes, potentially including debt payments and capital expenditures. The offering is described in the registration statement on Form F-3 and complies with relevant securities laws.

Borr Drilling Limited (NYSE: BORR) received notice from the NYSE regarding non-compliance with listing standards, specifically due to its average share price falling below $1.00 over 30 consecutive trading days. The company has a six-month period, until December 4, 2021, to regain compliance by achieving a closing share price of at least $1.00. During this time, shares will continue trading on the NYSE as long as other listing requirements are met.

Borr Drilling Limited (NYSE: BORR) held its 2021 Annual General Meeting on June 24, 2021, in Hamilton, Bermuda. The meeting featured the presentation of the audited financial statements for the year ending December 31, 2020. Key outcomes included the re-election of five directors: Paal Kibsgaard, Tor Olav Trøim, Alexandra Kate Blankenship, Georgina E. Sousa, and Neil J. Glass. The Company also approved an increase in authorized share capital from US$14.5 million to US$18 million, allowing for an additional 70 million common shares. PricewaterhouseCoopers LLP was reappointed as auditors with a total Board remuneration capped at US$1.2 million for 2021.