M&A
confidence high
sentiment neutral
materiality 0.65
SEACOR Marine completes merger acquiring 5 PSVs, assumes $18M debt, issues 1.57M shares
SEACOR Marine Holdings Inc.
- Acquired five PSVs via merger with SEACOR OSV Partners I LP; owned PSV fleet rises from 15 to 20.
- Issued 531,872 shares to partnership limited partners and 1,036,063 shares to PIK lenders; total 1.57M new shares.
- Assumed ~$18.05M of partnership debt under a credit facility; quarterly payments of $500k, Term SOFR + 4.68%, matures Dec 31, 2023.
- Acquired vessels: three U.S.-flagged in Gulf of Mexico, two Marshall Islands-flagged in Middle East; average age 7 years.