Scorpion Offshore Completes Private Placement
In reference to the previously announced private placement, Scorpion Offshore has completed the private placement directed to professional subscribers raising approximately US $49 million in gross proceeds through issuance of 3,800,000 shares each with a par value of US $0.002. The subscription price was NOK 73.50 per share.
After the private placement, the issued share capital in Scorpion will be US $691 million consisting of 53.4 million shares each with a par value of US $0.002.
The purpose of the share issue was to fund the initial down payment on its 6th rig being constructed at Lamprell in Dubai, finance the international upgrades of the 3rd and 4th rigs being constructed at Keppel AmFELS in Brownsville, with the remainder being available for working capital purposes.
The share issue was lead managed by Fearnley Fonds ASA.
- Seadrill's Mandatory Offer to Purchase All Scorpion Shares (Jul 15)
- Seadrill Increases Ownership in Scorpion Offshore (May 31)
- UPDATE: Ensco Ends Partial Offer for Scorpion Offshore (May 28)