BORR DRILLING LIMITED – CONTEMPLATED EQUITY OFFERING OF USD 40-50 MILLION
Hamilton, Bermuda, 22 September 2020 Borr Drilling Limited (“Borr” or the “Company”) (NYSE: “BORR”, OSE: “BDRILL”) is contemplating offering USD 40-50 million in new depository receipts (the "Offer Shares"), representing the beneficial interests in the same number of the Company’s underlying common shares, each with a par value of USD 0.05, and each at a subscription price of USD 0.70 (the “Subscription Price”) (the “Equity Offering”). Certain investors have pre-committed to subscribe for Offer Shares in the Equity Offering in the amount of approximately USD 30 million, of which