Tidewater acquires Swire Pacific Offshore for $42M cash + 8.1M warrants

TIDEWATER INC

Purchase consideration: $42M cash (subject to customary closing adjustments) and 8,100,000 warrants to buy Tidewater common stock at $0.001 per share.
Warrants exercisable for up to 25 years; terms substantially similar to Tidewater's existing New Creditor Warrants.
Closing conditions include accuracy of representations, absence of material adverse effect, no legal prohibition, and US Coast Guard determination on the warrants.
Transaction expected to close by July 9, 2022 unless extended; both parties have customary termination rights.
Warrants issued in a private placement exempt under Section 4(a)(2) of the Securities Act.

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