secwatch.observer — SEC 8-K summary
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Issuer:     TIDEWATER INC (TDW)
CIK:        0000098222
Form:       8-K/A
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001437749-23-026042
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tidewater files Solstad vessel acquisition financials; 2022 pro forma net loss $110M
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- Acquired 37 PSVs for $596.2M cash; financed via $325M DnB term loan and $250M 10.375% bonds due 2028.
- Pro forma FY2022: rev $829M, net loss $110M, EPS ($2.48); Solstad vessels contributed $174M rev and $85M loss.
- Pro forma H1 2023: rev $514M, net income $1.3M, EPS $0.03; Solstad vessels contributed $104M rev and $27M loss.
- Audited carve-out financials of Solstad PSV for FY2021-22 provided with a qualified opinion on IFRS 1 omission.
- No synergy assumptions included; pro forma reflects preliminary asset acquisition accounting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/98222/000143774923026042/0001437749-23-026042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/98222/000143774923026042/tdw20230808_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-026042

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