Hamilton, Bermuda — July 10, 2019 — Borr Drilling Limited (the “Company or “Borr Drilling”) today announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common shares in the United States (the “Offering”) on the New York Stock Exchange. The Company intends to raise from $10 million to $50 million in the Offering. The number of common shares to be offered has not yet been determined. The proceeds of the Offering are intended to be used for general corporate purposes.
The offering will not be conducted as a rights offering and no repair offer will be made as the shareholders of the Company do not have any pre-emptive rights.
The Company intends to apply to have its common shares listed on the New York Stock Exchange under the symbol “BORR”. Following the registration statement filing and the application for listing on the New York Stock Exchange, Borr Drilling will continue to be listed under the ticker “BDRILL” on the Oslo Stock Exchange.
The Offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
Goldman Sachs & Co. LLC and DNB Markets, Inc. will act as joint book-running managers for the Offering.
The Offering will be made only by means of prospectus. Copies of the preliminary prospectus relating to the Offering, when available, may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526 or by emailing Prospectusfirstname.lastname@example.org or from DNB Markets, Inc., 200 Park Ave, Floor 31, New York, NY 10166, telephone: 1-212-681-3800.
The Company’s registration statement on Form F-1 relating to these securities is available at the SEC’s website at www.sec.gov.
Questions may be directed to:
Svend Anton Maier: Chief Executive Officer, Borr Drilling Management DMCC
+ 971 4 448 7501
Rune Magnus Lundetræ: Chief Financial Officer, Borr Drilling Management DMCC
+ 971 58 864 3915 / +47 90088411
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This announcement does not constitute an offer to subscribe to or a solicitation of an offer to subscribe to securities in any member state within EEA in which such offer or solicitation is unlawful, unless in reliance upon applicable EEA prospectus exceptions, whereby no EEA prospectus, registration or similar action would be required within EEA.
This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.