ShippingWatch

Borr Drilling founder Trøim subscribes to shares in equity offering

Rig company Borr Drilling has lowered its capital injection target, which the company has been working to secure for a week. Meanwhile, the company has reached agreement with its lenders about additional liquidity. Founder Tor Olav Trøim subscribed for shares.

Photo: PR/Transocean

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.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Trial banner

Latest news

See all jobs