Borr Drilling (BORR) Company Report

Borr Drilling Limited settled a public offering of 21 million common shares at a price of $4.00 per share, resulting in total gross proceeds of $84 million on December 10, 2025.
The company intends to use these proceeds, combined with funds from a priced debt offering and seller financing, primarily for the acquisition of five premium jack-up rigs.
The proceeds will also be allocated to general corporate purposes, which may include debt service, capital expenditures, funding of working capital, and potential mergers and acquisitions.

5 days ago

Press Release

Borr Drilling Settles Common Share Offering and Announces Funding for Rig Acquisition

BORR

Debt Issuance

New Projects/Investments

Borr Drilling Limited announced the settlement of its public offering of 21 million common shares at a price of $4.00 per share, resulting in total gross proceeds of $84 million on December 10, 2025.
The company plans to use these proceeds, along with funds from a concurrent debt offering of $150,000,000 aggregate principal amount of 10.375% Senior Secured Notes due 2030, seller financing, and available cash, to fund the acquisition of five premium jack-up rigs and for general corporate purposes.

5 days ago

6-K

Borr Drilling Announces Pricing of Additional Senior Secured Notes Offering

BORR

Debt Issuance

New Projects/Investments

Borr Drilling Limited's wholly owned subsidiary, Borr IHC Limited, and certain other subsidiaries, priced an offering of additional 10.375% senior secured notes due 2030.
The offering generated gross proceeds of approximately $165 million.
The company plans to use the proceeds primarily for the acquisition of five premium jack-up rigs and for general corporate purposes.
Settlement of the Additional Notes is expected on or about December 19, 2025.

6 days ago

6-K

Borr Drilling Prices Public Offering and Plans Dual Listing

BORR

Debt Issuance

New Projects/Investments

Delisting/Listing Issues

Borr Drilling Limited priced a public offering of 21 million common shares at $4.00 per share, resulting in $84 million in total gross proceeds.
The company intends to use these proceeds, combined with funds from a concurrent debt offering, seller financing, and available cash, for the potential acquisition of five premium jack-up rigs and for general corporate purposes.
Borr Drilling has initiated the process to list its shares on Euronext Growth Oslo, with trading anticipated to begin on December 19, 2025, which will lead to a dual listing on the OSE and NYSE.

6 days ago

6-K

Borr Drilling Prices Additional Senior Secured Notes Offering

BORR

Debt Issuance

New Projects/Investments

M&A

Borr Drilling Limited announced the pricing of an offering of additional 10.375% senior secured notes due 2030.
The offering generated gross proceeds of approximately $165 million.
The proceeds are intended to fund the acquisition of five premium jack-up rigs and for general corporate purposes, which may include debt service, capital expenditures, working capital, and potential mergers and acquisitions.
Settlement of the Additional Notes is expected on or about December 19, 2025.

6 days ago

Press Release

Borr Drilling Prices Public Offering of Common Shares

BORR

Debt Issuance

New Projects/Investments

Delisting/Listing Issues

Borr Drilling Limited priced an equity offering of 21 million common shares at $4.00 per share, generating $84 million in gross proceeds.
The proceeds, along with a concurrent debt offering and other financing, are intended for the potential acquisition of five premium jack-up rigs and general corporate purposes.
The company's shares are expected to begin trading on the Euronext Growth Oslo on December 19, 2025, as a first step towards a re-listing on the Oslo Stock Exchange, leading to a dual listing with the NYSE.

6 days ago

Press Release

Borr Drilling Limited to Raise $85 Million in Equity Offering and Pursue Dual Listing

BORR

New Projects/Investments

Delisting/Listing Issues

M&A

Borr Drilling Limited announced an equity offering of 21 million common shares to raise approximately $85 million in gross proceeds.
The proceeds are intended for the potential acquisition of five premium jack-up rigs and general corporate purposes, with two directors indicating an intention to subscribe for $10 million each.
The company plans to list its shares on the Euronext Growth Oslo by December 19, 2025, as a step towards re-listing on the Oslo Stock Exchange, while maintaining its primary listing on the NYSE.

6 days ago

6-K

Borr Drilling Announces Agreement to Acquire Five Jack-Up Rigs

BORR

M&A

Debt Issuance

New Projects/Investments

Borr Drilling Limited has agreed to acquire five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million, which will increase its fleet from 24 to 29 rigs.
The acquisition, expected to close in Q1 2026, will be financed by a $150 million offering of existing Senior Secured Notes, a $150 million seller's credit, and an $85 million equity raise.
Two of the acquired rigs will be chartered back to the seller for 12 months, expected to generate $29 million in earnings before debt service.
The company has also started the process to list its shares on Euronext Growth Oslo, as a first step towards re-listing on the Oslo Stock Exchange.

6 days ago

6-K

Borr Drilling Announces Public Offering and Planned Dual Listing

BORR

New Projects/Investments

M&A

Delisting/Listing Issues

Borr Drilling Limited announced an Equity Offering to raise approximately $85 million in gross proceeds through the sale of 21 million common shares.
The proceeds from the offering are intended for the potential acquisition of five premium jack-up rigs and for general corporate purposes, including debt service, capital expenditures, working capital, and potential mergers and acquisitions.
Directors Mr. Tor Olav Trøim and Mr. Thiago Mordehachvili have indicated their intention to subscribe for $10 million of shares each in the Equity Offering through associated companies.
The company also plans to list its shares on Euronext Growth Oslo, with trading expected to begin on December 19, 2025, as a first step towards a re-listing on the Oslo Stock Exchange, while the NYSE will remain its primary listing.

7 days ago

Press Release

Borr Drilling to Acquire Five Jack-Up Rigs for $360 Million

BORR

M&A

New Projects/Investments

Delisting/Listing Issues

Borr Drilling Limited has entered into an agreement to acquire five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million.
This acquisition will expand Borr Drilling's fleet from 24 to 29 rigs and is anticipated to close in Q1 2026.
The acquisition will be financed through a $150 million offering of existing Senior Secured Notes, a $150 million seller's credit, and an $85 million equity raise.
Two of the acquired rigs will be chartered back to the seller for 12 months, expected to generate $29 million in earnings before debt service.
Borr Drilling has also commenced the process to list its shares on Euronext Growth Oslo, as a preliminary step towards re-listing on the Oslo Stock Exchange.