Transocean Ltd. Announces Pricing of Upsized Public Offering of Shares

Core Viewpoint - Transocean Ltd. is conducting a public offering of 125 million shares at a price of $3.05 per share, raising approximately $381.25 million in gross proceeds before expenses [1][3]. Group 1: Offering Details - The offering has increased from an initial proposal of 100 million shares to 125 million shares [1]. - Transocean has granted underwriters a 30-day option to purchase an additional 18.75 million shares at the public offering price [1]. - The offering is expected to close on September 26, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used primarily for the repayment or redemption of indebtedness, specifically a portion of the $655 million in 8.00% Senior Notes due February 2027 [3]. - Any remaining proceeds not used for debt repayment will be allocated for general corporate purposes [3]. Group 3: Underwriters - Citigroup and Morgan Stanley are serving as joint book-running managers for the offering [2]. - DNB Carnegie, Goldman Sachs & Co. LLC, and Wells Fargo Securities are also acting as joint book-running managers [2]. - SB1 Markets is participating as a co-manager for the offering [2]. Group 4: Company Overview - Transocean is a leading provider of offshore contract drilling services, focusing on ultra-deepwater and harsh environment drilling [6]. - The company operates a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters [7].