Item 7.01. Regulation FD Disclosure.
As previously disclosed, on May 17, 2017, Tidewater Inc. (the Company) and certain of its subsidiaries filed voluntary petitions for relief
under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Cases, and such court, the Bankruptcy Court). On July 17, 2017, the Bankruptcy
Court issued a written order (the Confirmation Order) approving the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of the Debtors, as modified by the Confirmation Order (the Plan).
As required by the rules of the Bankruptcy Court, on July 24, 2017, the Company filed its monthly operating report for the period beginning June 1,
2017 and ending June 30, 2017 (the Monthly Operating Report) with the Bankruptcy Court. The Monthly Operating Report is attached hereto as Exhibit 99.1. This Current Report on Form 8-K (including the exhibit hereto) is not an
admission by the Company that the information set forth in the Monthly Operating Report is material.
The information included in this Current Report on
Form 8-K under Item 7.01 and Exhibit 99.1 is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to
liabilities of that Section, unless the registrant specifically states that the information is to be considered filed under the Exchange Act or specifically incorporates it by reference into a filing under the Exchange Act or the
Securities Act of 1933, as amended.
Cautionary Statement Regarding the Monthly Operating Report
The Company cautions investors and potential investors not to unduly rely on the information contained in the Monthly Operating Report, which was not prepared
or reviewed for the purpose of facilitating an investment decision relating to any of the securities of the Company. The Monthly Operating Report has been prepared solely for the purpose of complying with the reporting requirements of the Bankruptcy
Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was not prepared in accordance with generally accepted accounting principles in the United States, is in a format prescribed by applicable bankruptcy laws,
and is subject to future adjustment and reconciliation. No assurance is given that, from the perspective of an investor or potential investor in the Companys securities, the Monthly Operating Report is complete.
Cautionary Note Regarding Forward-Looking Statements
In
accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that certain statements set forth in this Current Report on Form 8-K provide other than historical information and are forward
looking. The actual achievement of any forecasted results, or the unfolding of future economic or business developments in a way anticipated or projected by the Company, involve numerous risks and uncertainties that may cause the Companys
actual performance to be materially different from that stated or implied in the forward-looking statement. Among those risks and uncertainties, many of which are beyond the control of the Company, including, without limitation, the ability to
satisfy the conditions necessary to declare the Plan effective in the anticipated timeframe; effects on the market price of the Companys common stock and on the Companys ability to access the capital markets; volatility in worldwide
energy demand and oil and gas prices, and continuing depressed levels of oil and gas prices, without a clear indication of if, or when, prices will recover to a level to support renewed offshore exploration activities; consolidation of our customer
base; fleet additions by competitors and industry overcapacity; our views with respect to the need for and timing of the replenishment of our asset base, including through acquisitions or vessel construction; changes in capital spending by customers
in the energy industry for offshore exploration, field development and production;
2
loss of a major customer; changing customer demands for vessel specifications, which may make some of our older vessels technologically obsolete for certain customer projects or in certain
markets; delays and other problems associated with vessel construction and maintenance; uncertainty of global financial market conditions and difficulty in accessing credit or capital; potential difficulty in meeting financial covenants in material
debt or other obligations of the Company or in obtaining covenant relief from lenders or other contract parties; acts of terrorism and piracy; integration of acquired businesses and entry into new lines of business; disagreements with our joint
venture partners; significant weather conditions; unsettled political conditions, war, civil unrest and governmental actions, such as expropriation or enforcement of customs or other laws that are not well developed or consistently enforced, or
requirements that services provided locally be paid in local currency, in each case especially in higher political risk countries where we operate; foreign currency fluctuations; labor changes proposed by international conventions; increased
regulatory burdens and oversight; changes in laws governing the taxation of foreign source income; retention of skilled workers; enforcement of laws related to the environment, labor and foreign corrupt practices; and the resolution of pending legal
proceedings. Readers should consider all of these risk factors as well as other information contained in this report.