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.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit