NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG
KONG 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, Sept. 29, 2020 /PRNewswire/ -- Reference is made
to Borr Drilling Limited's ("Borr Drilling" or the "Company")
(NYSE: BORR) (OSE: BDRILL) announcement dated 22 September relating
to the contemplated equity offering of USD
40-50 million in new depository receipts (the "Equity
Offering") and the subsequent notice on 25
September 2020 announcing an extension of the
application period of the Equity Offering.
Borr Drilling is making good progress with its discussions with
its lenders to improve the concessions previously announced and has
therefore decided to further extend the application period for the
Equity Offering to 08:00
CET/2:00 am EST on
30 September 2020. The Board is
confident that concessions from lenders will be in place prior to
Wednesday morning. The Company may, in its own discretion, extend
or shorten the application period at any time and for any
reason.
Important note
This announcement is not being made in or into Canada, Australia, Japan, Hong
Kong or in any other jurisdiction where it would be
prohibited by applicable law. The shares referred to herein have
not been registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States, except pursuant to an
applicable exemption from registration.
Contact: Magnus Vaaler: VP
Investor Relations and Treasury, +47 22 48 30 00
Forward looking statements
This press release includes forward looking statements, which do
not reflect historical facts and may be identified by words such as
"may", "expect", "may", "will" and similar expressions and include
statements relating to the contemplated Equity Offering,
discussions with lenders, the expectation that an arrangement with
lenders will be in place and the expected timing and the extension
of the application period. Such forward-looking statements are
subject to risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements
included herein, including risks related to the Company's ability
to complete the contemplated Equity Offering on contemplated terms
or at all, the outcome of discussions with lenders and other
factors described in the section entitled "Risk Factors" in our
filings with the Securities and Exchange Commission. Such risks,
uncertainties, contingencies and other factors could cause actual
events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein. These
forward-looking statements are made only as of the date of this
release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---further-extension-of-application-period-for-the-equity-offering,c3204538
View original
content:http://www.prnewswire.com/news-releases/borr-drilling-limited--further-extension-of-application-period-for-the-equity-offering-301139555.html
SOURCE Borr Drilling Limited