secwatch.observer — SEC 8-K summary
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Issuer:     TIDEWATER INC (TDW)
CIK:        0000098222
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001104659-23-078507
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tidewater closes $580M acquisition of 37 PSVs from Solstad; secures $575M financing
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- Acquired 37 PSVs and related assets from Solstad Offshore for approx. $580M ($577M base + $3M initial adjustment).
- Funded via $250M 10.375% senior unsecured notes due 2028 and $325M senior secured term loan maturing July 2026.
- Term loan has $100M Tranche A (SOFR+5% to 8%) and $225M Tranche B (SOFR+3.75%); DNB Bank facility agent.
- Acquisition creates the world's largest hybrid OSV fleet with 14 battery hybrid and 2 LNG capable vessels.
- CEO Quintin Kneen says deal strengthens Tidewater's leadership position and brings together world's best OSV fleets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/98222/000110465923078507/0001104659-23-078507-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/98222/000110465923078507/tm2320604d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-078507

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer