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BDRILL Files Registration Statement with SEC for Proposed Initial Public Offering in the US

Source: www.gulfoilandgas.com 7/10/2019, Location: North America

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.

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