Scorpion Cinches Private Placement of 5.4MM Shares
Scorpion Offshore Ltd. has successfully completed a private placement of 5.4 million new shares at a subscription price of NOK 80.50. Gross proceeds from the equity issue totaled NOK 434.7 million (approximately US$ 86 million).
Scorpion issued shares, following this equity issue, increases to 59,605,156, each at a par value of US$0.002 per share. The net proceeds from this private placement will be used to fund part of the construction costs for the Company`s 6th and 7th jackups, the Offshore Freedom and Offshore Mischief.
The private placement was lead managed by Fearnley Fonds ASA, with Nordea Bank Norge ASA as co-lead manager.
- 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)