At the expiry of the offer period, investors representing 467,863 MCB's with a nominal value of NOK 467,863,000 have accepted the offer.
Ocean Rig is now in the process of making the registration of the share capital increase at the Register of Business Enterprises. Following the registration, the outstanding amount under the Mandatory Convertible Bond Issue will be reduced from NOK 479,315,000 to NOK 11,452,000, and the number of ordinary shares outstanding in Ocean Rig ASA will increase from 67,154,718 to 80,522,213.
Through the exchange offer, Ocean Rig has succeeded in accelerating a conversion from debt to equity, and thereby strengthened its balance sheet in preparation for a refinancing of the corporate debt.
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