Strained drilling company Borr Drilling has lowered its target for a planned capital injection, which the company has been working to secure for the past week.
Tuesday last week, Borr Drilling announced, in addition to revealing a deal with its lenders and equity fund Hayfin, that the company planned to raise between USD 40-50 million in new equity through a targeted equity offering. As a start, the deadline was set to Friday last week, but Borr Drilling has twice since extended that deadline.
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