Borr Drilling US$102.5 Million Public Offering

Jul 2025

Conyers advised Borr Drilling Limited (NYSE: BORR) in connection US$102.5 million public offering of common shares. The public offering includes 50 million common shares at a price of US$2.05 per share.

The offering will be completed in two settlements, with 30 million shares settled on 7 July 2025 and the remaining 20 million shares expected to settle around 7 August 2025, subject to shareholder approval at a special general meeting.

Borr Drilling intends to use the net proceeds for general corporate purposes, including debt service, capital expenditures, and working capital.

The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. DNB, Carnegie, Clarksons Securities, Citigroup and Goldman Sachs & Co. LLC are acting as joint bookrunning managers.