NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.
Hamilton, Bermuda, 27 October 2023
Borr Drilling Limited (NYSE and OSE: BORR) (the “Company”) refers to the stock exchange releases related to the private placement (the “Private Placement”) of 7,522,838 offer shares (the “Offer Shares”), each at a par value of $0.10 at an offer price of NOK 74, raising gross proceeds of $50 million.
The Offer Shares have today been recorded in Euronext Securities Oslo (VPS). Thus, all conditions to closing of the Private Placement are fulfilled, and the Private Placement will today be settled with the investors allocated the Offer Shares. The Offer Shares allocated, being legally and validly issued and fully paid-up, are now tradable on Oslo Børs.
No Offer Shares will be offered or sold to the public in the United States or in transactions on the New York Stock Exchange.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Forward looking statements
This announcement includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including the conditions to the Private Placement, expected timing of settlement of the Private Placement, other statements relating to the Private Placement, and other non-historical statements. These forward-looking statements are subject to numerous risks, uncertainties, and assumptions. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on such forward-looking statements.