Tidewater prices 3.99M-share offering at $30.25; proceeds to buy back Banyan warrants

TIDEWATER INC

Public offering of 3,987,914 shares at $30.25/share for gross proceeds ~$120.6M.
Net proceeds to repurchase all remaining Banyan warrants exercisable for same number of shares.
Warrants were issued in April 2022 as part of Swire Pacific Offshore acquisition from Banyan.
Morgan Stanley sole underwriter; offering closed Nov 10, 2022.
After repurchase, zero Banyan warrants remain outstanding.

item 1.01 item 3.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TIDEWATER INC entered into Warrant Repurchase Agreement with Banyan Overseas Limited (effective 2022-11-08).

Action: entry
Counterparty: Banyan Overseas Limited
Effective: 2022-11-08

Exact text from the filing

on November 8, 2022, the Company entered into a Warrant Repurchase Agreement (the “Warrant Repurchase Agreement”) between the Company and Banyan Overseas Limited (“Banyan”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TIDEWATER INC entered into Underwriting Agreement with Morgan Stanley & Co. LLC valued at total gross proceeds to the Company of approximately $120,634,398 (effective 2022-11-08).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC
Value: total gross proceeds to the Company of approximately $120,634,398
Effective: 2022-11-08

Exact text from the filing

On November 8, 2022, Tidewater Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) between the Company and Morgan Stanley & Co. LLC (the “Underwriter”) with respect to the offer and sale of 3,987,914 shares

View on SEC.gov

Browse all material agreements →

TIDEWATER INC filing history →

Source: SEC EDGAR

accession 0001437749-22-026961

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.