Borr Drilling Limited - Increase in share capital
Borr Drilling Limited has successfully completed a subsequent offering of 10,000,000 new shares on the Oslo Stock Exchange at a subscription price of USD 0.53 per share.
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Rhea-AI Summary
Borr Drilling Limited has successfully completed a subsequent offering of 10,000,000 new shares on the Oslo Stock Exchange at a subscription price of USD 0.53 per share. The settlement occurred on November 27, 2020, leading to an increase in the company's issued share capital by USD 500,000, resulting in a total capital of USD 11,015,935.20. The company now has 220,318,704 common shares with a nominal value of USD 0.05 each. These shares are not registered under the U.S. Securities Act and cannot be sold in the U.S. without appropriate exemptions.
Positive
- Successful completion of subsequent offering of 10 million shares.
- Increase in share capital by USD 500,000.
Negative
- Shares are not registered under the U.S. Securities Act.
Details
News Market Reaction – BORR
The recorded move for BORR in the trading session of this news was -13.39%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HAMILTON, Bermuda, Nov. 30, 2020 /PRNewswire/ -- Reference is made to Borr Drilling Limited's ("Borr Drilling" or the "Company") (NYSE: "BORR", OSE: "BDRILL") stock exchange releases related to the subsequent offering of 10,000,000 new shares on the Oslo Stock Exchange (the "Offer Shares" and the "Subsequent Offering"), each at a subscription price at USD 0.53 per Offer Share.
The Subsequent Offering was settled Friday 27 November 2020, and the Company's issued share capital has been increased by USD 500,000 to USD 11,015,935.20, divided into 220,318,704 common shares with a nominal value of USD 0.05 per common share.
The common shares referred to herein have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This information was brought to you by Cision http://news.cision.com
View original content:http://www.prnewswire.com/news-releases/borr-drilling-limited---increase-in-share-capital-301181423.html
SOURCE Borr Drilling Limited
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