Borr Drilling Ltd. announces today that it has priced its previously announced offering of 69,444,444 shares, at a price of $3.60 per common share for total gross proceeds of $250 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 6,944,444 common shares at the offering price minus underwriting discounts. No securities in the NYSE offering will be offered or listed on [...]
Borr Drilling Ltd. announces today that it plans to make a public offering of $250,000,000 of its common shares in the United States. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to $25,000,000 of additional common shares. No securities in the NYSE offering will be offered or listed on Oslo Stock Exchange. The Company plans to use the proceeds from the [...]
Borr Drilling Ltd. announces preliminary unaudited results for the three and six months ended June 30, 2022. Highlights Second Quarter of 2022 Total operating revenues of $105.3 million, an increase of $23.3 million or 28% compared to the first quarter of 2022 Net loss of $165.3 million, an increase in loss of $114.0 million compared to the first quarter of 2022, mainly attributable to an impairment loss in Q2 2022 of [...]
Borr Drilling Ltd. is pleased to announce it has received a binding Letter of Intent for the premium jack-up drilling rig "Prospector 5" from an undisclosed operator in West Africa. The 6-well firm program is expected to commence during Q4 2022 and has an estimated duration of fourteen months plus options. This LOI, which is expected to be converted into a contract shortly, has an estimated total contract value of $68.9 [...]
Borr Drilling Ltd. refers to its announcements of 14 July 2022 regarding the status of negotiations with its secured creditors and a possible equity offering. The Company's board is pleased to announce that it has obtained a financing proposal for the remaining $100 million of the $250 million senior secured facilities that was still subject to final syndication as described in the announcement of 14 July 2022. As such [...]
Borr Drilling Ltd. refers to its communication of 30 June 2022 regarding the status of the negotiation with its secured creditors. The Company's board is pleased to announce that agreements in principle have been reached with most of the secured creditors to extend the majority of secured debt to 2025. These agreements are subject to the respective board's approvals and binding documentation. The company is seeking the [...]
Borr Drilling Ltd. refers to its previous communication regarding its ongoing negotiations with creditors to reach mutual agreements to refinance and extend its 2023 maturities and complete such refinancing by 30 June 2022. Significant progress has been made in the negotiations with the target to put in place the right capital structure for the company going forward. A complete solution will require a further equity [...]
Borr Drilling Ltd. has signed a binding letter of intent with an undisclosed third party for the sale of 3 high-specification units under construction with Keppel FELS shipyard - namely "Tivar", "Huldra" and "Heidrun" . The sale transaction is subject to customary closing conditions and procedures and is expected conclude within 30 days. The Transaction Rigs are expected to be employed by the prospective owner in a [...]
Borr Drilling Ltd. has today filed with U.S Securities and Exchange Commission its Unaudited Interim Financial Report for the three months ended March 31, 2022 on Form 6-K. The report is attached to this release and can also be found on the Company's website www.borrdrilling.com and the U.S Securities and Exchange Commission website, www.sec.gov. This information is subject to the disclosure requirements pursuant to [...]
Please find enclosed the presentation of Borr Drilling Ltd.'s first quarter 2022 results to be held on the webcast/conference call at 15:00 CET on May 31, 2022. In order to listen to the presentation, you may do one of the following: a) Webcast Please use the following link: www.incommuk.com/customers/online with access code: 690053 b) Conference Call Dial in details, Participants: Conference ID: 690053 United Kingdom 020 [...]
Borr Drilling Ltd. announces preliminary unaudited results for the three months ended March 31, 2022. Highlights First Quarter of 2022 Total operating revenues of $82.0 million, an increase of $12.9 million or 19% compared to the fourth quarter of 2021 Net loss of $51.3 million, an increase of $5.2 million compared to the loss in the fourth quarter of 2021 Cash and cash equivalents of $50.1 million and restricted cash of [...]
Borr Drilling Ltd. plans to release its financial results for the first quarter 2022 on Tuesday, May 31, 2022. A conference call and webcast is scheduled for 15:00 CET and participants are encouraged to dial in 10 minutes before the start of the call. The earnings report and presentation will be available from the Investor Relations section on www.borrdrilling.com. In order to listen to the presentation, you may do one of [...]
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