Borr Drilling (BORR) said Tuesday it has priced its previously announced public offering of 21 million common shares at $4 per share, for total gross proceeds of $84 million.
The company said it intends to use offering proceeds towards the purchase of five premium jack-up rigs, debt servicing and capital expenditures, among others.
Additionally, the company said it expects its shares to begin trading on the Euronext Growth Oslo on Dec. 19, and that its primary listing will remain on the New York Stock Exchange.
Shares of the company were up 6.4% in recent Tuesday trading.
Price: 4.32, Change: +0.26, Percent Change: +6.40
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