Tidewater to acquire Swire Pacific Offshore for ~$190M; reports Q4 net loss $37.9M

TIDEWATER INC

Q4 revenue $105.2M (+14.5% YoY); net loss $37.9M ($0.92 EPS); adjusted loss $11.7M ($0.28 EPS).
FY 2021 revenue $371.0M (down from $397.0M); net loss $129.0M ($3.14 EPS).
Acquiring SPO for $42M cash + 8.1M warrants (strike $0.001); 50-OSV fleet (29 AHTS, 21 PSVs).
Targeting ~$45M annual cost synergies within 24 months; transaction approved by both boards.
Expected close Q2 2022; pro forma fleet of 174 OSVs (203 total), expanding West Africa, SE Asia, Middle East.

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