<SEC-DOCUMENT>0001193125-19-297590.txt : 20191121
<SEC-HEADER>0001193125-19-297590.hdr.sgml : 20191121
<ACCEPTANCE-DATETIME>20191121161259
ACCESSION NUMBER:		0001193125-19-297590
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20191121
DATE AS OF CHANGE:		20191121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TIDEWATER INC
		CENTRAL INDEX KEY:			0000098222
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				720487776
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-228029
		FILM NUMBER:		191237555

	BUSINESS ADDRESS:	
		STREET 1:		6002 ROGERDALE ROAD
		STREET 2:		SUITE 600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77072
		BUSINESS PHONE:		7134705300

	MAIL ADDRESS:	
		STREET 1:		6002 ROGERDALE ROAD
		STREET 2:		SUITE 600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77072

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIDEWATER MARINE SERVICE INC
		DATE OF NAME CHANGE:	19780724
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d841303d424b3.htm
<DESCRIPTION>424B3
<TEXT>
<HTML><HEAD>
<TITLE>424B3</TITLE>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 424(b)(3)<BR>Registration Statement No. 333-228029<BR> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Tidewater Inc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Up to
2,051,292 Shares of Common Stock </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Issuable upon the Exercise of Outstanding GLF Warrants </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus relates to the delivery by Tidewater Inc. (&#147;Tidewater&#148; or the &#147;Registrant&#148;) of up to 2,051,292 shares of common stock, par
value $0.001 per share (the &#147;Common Stock&#148;), which are issuable upon the exercise of certain outstanding warrants (the &#147;GLF Warrants&#148;). The GLF Warrants, originally issued by GulfMark Offshore, Inc. (&#147;GulfMark&#148;), were
assumed by Tidewater as a result of the business combination between Tidewater and GulfMark that was consummated on November&nbsp;15, 2018 (the &#147;business combination&#148; and the consummation of such business combination, the
&#147;closing&#148;). The business combination was transacted pursuant to an Agreement and Plan of Merger, dated as of July&nbsp;15, 2018, by and between Tidewater and GulfMark (the &#147;merger agreement&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with the terms of the merger agreement and the applicable GLF Warrant Agreement (as assumed and amended by Tidewater at the closing), each GLF
Warrant represents the right to receive 1.100 shares of Common Stock upon payment to Tidewater of the applicable exercise price and subject to the other terms and conditions of the applicable GLF Warrant Agreement, including cash paid in lieu of any
fractional share. There are two series of GLF Warrants: GLF Jones Act Warrants, which may be exercised at any time until November&nbsp;14, 2042 for an exercise price of $0.01 per share, and GLF Equity Warrants, which may be exercised at any time
until November&nbsp;14, 2024 for an exercise price of $100.00 per share. Although all of the GLF Warrants are immediately exercisable, exercise of any GLF Warrants is subject to, among other things, the limitations on foreign ownership as set forth
in Tidewater&#146;s Amended and Restated Certificate of Incorporation (the &#147;Tidewater charter&#148;) that are intended to comply with the Merchant Marine Act of 1920 and the Shipping Act, 1916, as amended, and the rules and regulations
promulgated thereunder (collectively, the &#147;Jones Act&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a result of the business combination and pursuant to the GLF Warrant Agreements,
Tidewater will issue shares of Common Stock to the holders of GLF Warrants from time to time in the future and in amounts determined by such holders through their exercise of GLF Warrants, subject to the limitations set forth in the Tidewater
charter intended to assure Tidewater&#146;s compliance with the Jones Act, and the shares of Common Stock subject to this registration statement are being registered for this purpose. As of the date of this prospectus, there were 1,081,801 GLF Jones
Act Warrants outstanding, representing the right to purchase an aggregate of 1,189,982 shares of Common Stock and 783,009 GLF Equity Warrants outstanding, representing the right to purchase an aggregate 861,310 shares of Common Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater will not receive any cash proceeds from the exercise of GLF Jones Act Warrants because, by their terms, these warrants may only be exercised through
a cashless exercise procedure, where the number of shares of Common Stock delivered upon exercise will be reduced by the number of shares of Common Stock necessary to cover the aggregate exercise price. Holders of GLF Equity Warrants may elect
either to exercise their warrants using a cashless exercise procedure or to pay the aggregate exercise price in cash. Tidewater will receive the proceeds from any cash exercise of the GLF Equity Warrants. If all outstanding GLF Equity Warrants were
exercised for cash, we would receive gross proceeds of approximately $86,131,000. Any such proceeds would be used for general corporate purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our
Common Stock is listed on the New York Stock Exchange (the &#147;NYSE&#148;) under the symbol &#147;TDW.&#148; On November 12, 2019, the last reported closing sale price of our Common Stock on the NYSE was $14.50. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>You should carefully read this prospectus, the documents incorporated by reference in this prospectus and any prospectus supplement before making an
investment decision. Holding shares of our Common Stock involves risks that are described in the &#147;<A HREF="#toc841303_8">Risk&nbsp;Factors</A>&#148; section on page&nbsp;4 of this prospectus and &#147;Risk Factors&#148; in the documents
incorporated by reference herein. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved
of these securities, or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus is November 13, 2019. </B></P>
</DIV></Center>


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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_1">IMPORTANT NOTICE ABOUT INFORMATION IN THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_2">PROSPECTUS SUMMARY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_3">Information About the Company</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_4">The Business Combination with GulfMark</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_5">Assumption of the GLF Warrants</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_6">Description of GLF Warrants</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_7">Listing of Shares of Tidewater Common Stock</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_8">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_9">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_10">THE OFFERING</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_11">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_12">DETERMINATION OF OFFERING PRICE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_13">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_14">THE WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_15">DESCRIPTION OF TIDEWATER COMMON STOCK AND WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_16">General</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_17">Common Stock</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_18">Certain Provisions of the Tidewater Certificate of Incorporation and Bylaws
</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_19">Shares Eligible for Future Sale</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_20">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_21">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc841303_22">ADDITIONAL INFORMATION AND INFORMATION INCORPORATED BY
REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_1"></A>IMPORTANT NOTICE ABOUT INFORMATION IN THIS PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have not authorized anyone to provide any information other than that contained or incorporated by reference in this prospectus, in any prospectus
supplement we prepare or authorize and in any related free writing prospectus or other information to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others
may give you. If you are in a jurisdiction where offers to sell, or solicitations of offers to purchase, the securities offered by this document are unlawful, or if you are a person to whom it is unlawful to direct these types of activities, then
the offer presented in this document does not extend to you. You should assume that the information contained and incorporated by reference in this prospectus, any accompanying prospectus supplement and in any related free writing prospectus filed
by us with the Securities Exchange Commission (the &#147;SEC&#148;) is only accurate as of the respective dates of such documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You should also read
and consider the information in the documents to which we have referred you under the captions &#147;Additional Information and Information Incorporated by Reference&#148; in this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_2"></A>PROSPECTUS SUMMARY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This summary highlights information contained elsewhere or incorporated by reference in this prospectus and does not contain all of the information you
should consider in making your investment decision. You should read this entire prospectus carefully, including the documents incorporated by reference, which are described under &#147;Additional Information and Information Incorporated by
Reference.&#148; Before making an investment decision, you should carefully consider, among other things, the matters discussed in &#147;Risk Factors&#148; included elsewhere in this prospectus. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_3"></A>Information about the Company </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Tidewater Inc. </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6002 Rogerdale Road, Suite 600 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Houston, Texas 77072 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Phone: <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">713-470-5300</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater Inc., a Delaware corporation, provides offshore marine support and transportation
services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels. Tidewater was incorporated in 1956 and conducts its operations through wholly-owned United States and international subsidiaries,
as well as through joint ventures in which Tidewater has either majority or, occasionally, <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (generally where required to satisfy local ownership or local content requirements).
Headquartered in Houston, Texas, Tidewater&#146;s U.S. marine operations are based in Amelia, Louisiana and Houston, Texas, and Tidewater conducts international operations through facilities and offices located in over 30 countries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater&#146;s vessels and associated vessel services provide support for all phases of offshore oil and natural gas exploration, field development and
production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction and seismic and
subsea support; and a variety of specialized services such as pipe and cable laying. In addition, Tidewater has one of the broadest geographic operating footprints in the offshore vessel industry. Tidewater&#146;s global operating footprint allows
it to react quickly to changing local market conditions and to be responsive to the changing requirements of the many customers with which it believes it has strong relationships. Tidewater is also one of the most experienced international operators
in the offshore energy industry with over 60 years of international experience. At September&nbsp;30, 2019, Tidewater owned 220 vessels (excluding four joint venture vessels, but including 60 stacked vessels) available to serve the global energy
industry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares of Tidewater&#146;s common stock, $0.001 par value per share (the &#147;Common Stock&#148;), are listed on the New York Stock Exchange
(the &#147;NYSE&#148;) under the symbol &#147;TDW.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_4"></A>The Business Combination with GulfMark </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November&nbsp;15, 2018, Tidewater and GulfMark Offshore, Inc., a Delaware corporation (&#147;GulfMark&#148;), completed the transactions contemplated by the
Agreement and Plan of Merger (the &#147;merger agreement&#148;), dated as of July&nbsp;15, 2018, by and among Tidewater and GulfMark, providing for the combination of Tidewater with GulfMark (the &#147;business combination&#148; and the consummation
of such business combination, the &#147;closing&#148;). The business combination was effected as a <FONT STYLE="white-space:nowrap">two-step</FONT> reverse merger, with (1)&nbsp;GulfMark merging with and into a newly-formed, wholly-owned subsidiary
of Tidewater, with GulfMark continuing as the surviving entity and a wholly-owned subsidiary of Tidewater (the &#147;Surviving Corporation&#148;) and then, immediately afterwards, (2)&nbsp;the Surviving Corporation merging with and into a second
newly-formed, wholly-owned subsidiary of Tidewater (Gorgon NewCo, LLC, a Delaware limited liability company, or &#147;Gorgon&#148;), with Gorgon continuing as the surviving entity and a direct, wholly-owned subsidiary of Tidewater. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_5"></A>Assumption of the GLF Warrants </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As provided in the merger agreement, at the closing, each share of GulfMark common stock that was issued and outstanding immediately prior to the business
combination was converted into the right to receive 1.100 of a fully paid, validly issued and nonassessable share of Common Stock (the &#147;exchange ratio&#148;). In addition, as provided in the merger agreement and applicable GLF Warrant Agreement
(as assumed and amended by Tidewater at the closing), each GulfMark warrant that was outstanding immediately prior to the business combination (collectively, the &#147;GLF Warrants&#148;) was automatically converted into a warrant representing a
right to acquire shares of Common Stock on substantially the same terms and conditions as applied to such warrant immediately prior to the business combination, as adjusted to reflect the exchange ratio and subject to the limitations on foreign
ownership set forth in the Tidewater charter intended to comply with the Jones Act. As a result, following the closing, each GLF Warrant is exercisable for a 1.100 share of Common Stock upon payment to Tidewater of the applicable exercise price and
subject to the other terms and conditions of the applicable GLF Warrant Agreement, including cash paid in lieu of any fractional share. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The terms and conditions of the business combination are contained in the merger agreement, which is filed
as an exhibit to, and incorporated by reference into, this prospectus. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_6"></A>Description of GLF Warrants </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater is not offering to issue or sell GLF Warrants. Rather, as described in greater detail in this prospectus, Tidewater is obligated to issue shares of
Common Stock to the holders of GLF Warrants from time to time and in amounts determined by such holders through their exercise of GLF Warrants, subject to the limitations set forth in the Tidewater charter intended to comply with the Jones Act, and
the shares of Common Stock subject to this registration statement are being registered for this purpose. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with the terms and conditions of
the merger agreement and the applicable GLF Warrant Agreement (as assumed and amended by Tidewater at the closing), each GLF Warrant represents the right to purchase 1.100 shares of Common Stock upon payment to Tidewater of the applicable exercise
price and subject to the other terms and conditions of the applicable GLF Warrant Agreement, including cash paid in lieu of any fractional share by Tidewater to an exercising warrant holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There are two series of GLF Warrants: (i)&nbsp;GLF Jones Act Warrants, which may be exercised at any time until November&nbsp;14, 2042 for an exercise price
of $0.01 per share, and (ii)&nbsp;GLF Equity Warrants, which may be exercised at any time until November&nbsp;14, 2024 for an exercise price of $100.00 per share. Although all of the GLF Warrants are immediately exercisable, exercise of any GLF
Warrants is subject to the limitations on foreign ownership as set forth in the Tidewater charter that are intended to comply with the Jones Act. Immediately following the closing, there were 2,339,658 GLF Jones Act Warrants outstanding,
representing the right to purchase an aggregate of 2,573,624 shares of Common Stock and 783,009 GLF Equity Warrants outstanding, representing the right to purchase an aggregate 861,310 shares of Common Stock. As of the date of this prospectus, there
were 1,081,801 GLF Jones Act Warrants outstanding, representing the right to purchase an aggregate of 1,189,982 shares of Common Stock and 783,009 GLF Equity Warrants outstanding, representing the right to purchase an aggregate 861,310 shares of
Common Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The exercise of the GLF Jones Act Warrants is subject to the terms and conditions of the applicable warrant agreement, as amended by a
written instrument executed by Tidewater, GulfMark, and the warrant agent (as amended, the &#147;GLF Jones Act Warrant Agreement&#148;). The documents comprising the GLF Jones Act Warrant Agreement are filed as Exhibits 4.3 and 4.4 to, and are
incorporated by reference into, this prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Similarly, exercise of the GLF Equity Warrants is subject to the terms and conditions of the applicable
warrant agreement, as amended by a written instrument executed by Tidewater, GulfMark, and the warrant agent (as amended, the &#147;GLF Equity Warrant Agreement&#148; and together with the GLF Jones Act Warrant Agreement, the &#147;GLF Warrant
Agreements&#148; and each a &#147;GLF Warrant Agreement&#148;). The documents comprising the GLF Equity Warrant Agreement are filed as Exhibits 4.5 and 4.6 to, and are incorporated by reference into, this prospectus. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_7"></A>Listing of Shares of Tidewater Common Stock </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have been approved by the NYSE to have the shares of Common Stock issuable under the GLF Warrants listed on the NYSE, where our Common Stock is currently
traded under the symbol &#147;TDW.&#148; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_8"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our business, financial condition and operating results can be affected by a number of factors, whether currently known or unknown, including but not limited
to those described in this registration statement or in our filings with the SEC, any one or more of which could, directly or indirectly, cause our actual financial condition and operating results to vary materially from those anticipated, projected
or assumed in the forward-looking statements. Any of these factors, in whole or in part, could materially and adversely affect our business, prospects, financial condition, results of operations, stock price and cash flows. These could also be
affected by additional factors that apply to all companies generally which are not specifically mentioned below. The price of our securities could decline and you could lose part or all of your investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investing in our Common Stock involves certain risks. Before you invest in our Common Stock you should carefully consider those risk factors described under,
but not limited to, the heading &#147;Risk Factors&#148; in our most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> any subsequently filed Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and any
subsequently filed Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> (other than, in each case, information furnished rather than filed), which are incorporated by reference herein, and those risk factors that may be included in
any applicable prospectus supplement, together with all of the other information included in this prospectus, any prospectus supplement and the documents we incorporate by reference, in evaluating an investment in our Common Stock. The risks and
uncertainties described in this prospectus or incorporated by reference into this prospectus are not the only risks and uncertainties we face. The risks described also include forward-looking statements and our actual results may differ
substantially from those discussed in these forward-looking statements. Please read &#147;Cautionary Statement Regarding Forward-Looking Statements.&#148; For access to documents that are incorporated by reference into this prospectus, please see
the section entitled, &#147;Additional Information and Information Incorporated by Reference&#148; beginning on page 15. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_9"></A>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This registration statement, of which this prospectus forms a part, and the documents to which Tidewater refers you in this registration statement,
include certain &#147;forward-looking statements&#148; within the meaning of, and subject to the safe harbor created by, Section&nbsp;27A of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) and Section&nbsp;21E of the Exchange
Act (the &#147;safe harbor provisions&#148;). Forward-looking statements are all statements other than statements of historical fact. All such forward-looking statements are subject to risks and uncertainties, and Tidewater&#146;s future results of
operations could differ materially from its historical results or current expectations reflected by such forward-looking statements. Some of these risks are discussed in Tidewater&#146;s most recent Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K,</FONT> which is incorporated by reference into this registration statement, including in Item 1A. &#147;Risk Factors&#148; and include, without limitation, the risk that the cost savings and any other synergies from
the business combination with GulfMark may not be fully realized or may take longer to realize than expected; disruptions from the business combination making it more difficult to maintain relationships with customers, employees or suppliers; the
possibility of litigation related to the business combination; the diversion of management&#146;s time from <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> operations due to the business combination; the
incurrence of substantial transaction-related costs associated with the business combination; the possibility of unanticipated costs being incurred to effectuate the integration; new accounting policies and our consolidation activities; fluctuations
in worldwide energy demand and oil and natural gas prices, and continuing depressed levels of oil and natural gas prices without a clear indication of if, or when, prices will recover to a level to support renewed offshore exploration activities;
fleet additions by competitors and industry overcapacity; our limited capital resources available to replenish our asset base, including through acquisitions or vessel construction, and to fund our capital expenditure needs; the uncertainty of
global financial market conditions and potential constraints in accessing capital or credit if and when needed with favorable terms, if at all; changes in decisions and capital spending by customers in the energy industry and the industry
expectations for offshore exploration, field development and production; consolidation of our customer base; loss of a major customer; changing customer demands for vessel specifications, which may make some of our older vessels technologically
obsolete for certain customer projects or in certain markets; rapid technological changes; delays and other problems associated with vessel construction and maintenance; the continued availability of qualified personnel and our ability to attract
and retain them; the operating risks normally incident to our lines of business, including the potential impact of liquidated counterparties; our ability to comply with covenants in our indentures and other debt instruments; acts of terrorism and
piracy; the impact of potential information technology, cybersecurity or data security breaches; integration of acquired businesses and entry into new lines of business; disagreements with our joint venture partners; significant weather conditions;
unsettled political conditions, war, civil unrest and governmental actions, such as expropriation or enforcement of customs or other laws that are not well developed or consistently enforced; the risks associated with our international operations,
including local content, local currency or similar requirements especially in higher political risk countries where we operate; interest rate and foreign currency fluctuations; labor changes proposed by international conventions; increased
regulatory burdens and oversight; changes in laws governing the taxation of foreign source income; retention of skilled workers; enforcement of laws related to the environment, labor and foreign corrupt practices; the potential liability for
remedial actions or assessments under existing or future environmental regulations or litigation; the effects of asserted and unasserted claims and the extent of available insurance coverage; and the resolution of pending legal proceedings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements, which can generally be identified by the use of such terminology as &#147;may,&#148; &#147;can,&#148; &#147;potential,&#148;
&#147;expect,&#148; &#147;project,&#148; &#147;target,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;forecast,&#148; &#147;believe,&#148; &#147;think,&#148; &#147;could,&#148; &#147;continue,&#148; &#147;intend,&#148; &#147;seek,&#148;
&#147;plan,&#148; and similar expressions contained in this registration statement and in Tidewater&#146;s most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as updated by its subsequent filings with the SEC, are not
guarantees or assurances of future performance or events. Any forward-looking statements are based on Tidewater&#146;s assessment of current industry, financial and economic information, which by its nature is dynamic and subject to rapid and
possibly abrupt changes, which Tidewater may or may not be able to control. Further, Tidewater may make changes to its business plans that could or will affect its results. While management believes that these forward-looking statements are
reasonable when made, there can be no assurance that future developments that affect Tidewater will be those that we anticipate and have identified. The forward-looking statements should be considered in the context of the risk factors listed above
and discussed in greater detail in Tidewater&#146;s most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as updated by its subsequent filings with the SEC. Management disclaims any obligation to update or revise any
forward-looking statements contained herein to reflect new information, future events or developments. All of the forward-looking statements made by Tidewater in this prospectus are qualified by the information contained herein, including the
information contained under this heading. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater undertakes no obligation to publicly release the result of any revisions to any such forward-looking
statements that may be made to reflect events or circumstances that occur, or of which it becomes aware. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_10"></A>THE OFFERING </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Issuer: </P></TD>
<TD>Tidewater&nbsp;Inc. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Shares of Common Stock that may be offered by the Issuer: </P></TD>
<TD>Up to 2,051,292 shares of Common Stock, consisting of up to 1,081,801 shares issuable upon the exercise of GLF Jones Act Warrants and up to 861,310 shares issuable upon the exercise of GLF Equity Warrants. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Offering: </P></TD>
<TD>The purpose of this offering is to register the shares of Common Stock that are issuable upon the exercise of two series of outstanding GLF Warrants: (i)&nbsp;GLF Equity Warrants, which may be exercised at any time until November&nbsp;14, 2024
for an exercise price of $100.00 per share, and (ii)&nbsp;GLF Jones Act Warrants, which may be exercised at any time until November&nbsp;14, 2042 for an exercise price of $0.01 per share. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR VALIGN="TOP">
<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD>As a result of the closing of the business combination between Tidewater and GulfMark that was consummated on November&nbsp;15, 2018, Tidewater assumed the GLF Warrants and will issue shares of Common Stock to the holders of GLF Warrants in the
future, at times and in amounts determined by such holders through their exercise of these GLF Warrants in accordance with the applicable GLF Warrant Agreement, and the shares of Common Stock subject to this registration statement are being
registered for this purpose. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD>In accordance with the terms of the merger agreement and the applicable GLF Warrant Agreement (as assumed and amended by Tidewater at the closing), each GLF Warrant represents the right to receive 1.100 shares of Common Stock upon payment to
Tidewater of the applicable exercise price and subject to the other terms and conditions of the applicable GLF Warrant Agreement, including the limitations on foreign ownership as set forth in the Tidewater charter that are intended to comply with
the Jones Act, with cash paid in lieu of any fractional share. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Use of Proceeds: </P></TD>
<TD>Tidewater will not receive any proceeds from the exercise of GLF Jones Act Warrants, as they may only be exercised using a cashless exercise procedure. Holders of GLF Equity Warrants may elect to exercise their warrants using a cashless exercise
procedure or may pay the aggregate exercise price in cash. Tidewater would receive the proceeds from any cash exercise of the GLF Equity Warrants to purchase shares of Common Stock. Any such proceeds would be used for general corporate purposes.
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Risk Factors: </P></TD>
<TD>For more information, see the section entitled &#147;Risk Factors&#148; beginning on page 4 of this prospectus and other information included in this prospectus for a discussion of factors you should carefully consider. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">NYSE Common Stock symbol: </P></TD>
<TD>&#147;TDW&#148; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Transfer Agent and Registrar: </P></TD>
<TD>Computershare Inc. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_11"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tidewater will not receive any cash proceeds from the exercise of GLF Jones Act Warrants because, by their terms, GLF Jones Act Warrants may
only be exercised through a cashless exercise procedure, in which the number of shares of Common Stock delivered to the exercising warrantholder upon exercise will be reduced by the number of shares of Common Stock necessary to cover the aggregate
exercise price. Holders of GLF Equity Warrants may elect either to exercise their warrants using a cashless exercise procedure or to pay the aggregate exercise price in cash. Tidewater will receive the proceeds from any cash exercise of the GLF
Equity Warrants. If all GLF Equity Warrants that were outstanding as of the closing were exercised for cash, we would receive gross proceeds of approximately $86,131,000. Tidewater intends to use any proceeds received upon the cash exercise of GLF
Equity Warrants for general corporate purposes. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_12"></A>DETERMINATION OF OFFERING PRICE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The offering price per share of Common Stock issuable under the GLF Warrants is an exercise price set forth in the applicable GLF Warrant
Agreement. For GLF Jones Act Warrants, the exercise price is $0.01 per share of Common Stock and for GLF Equity Warrants, the exercise price is $100.00 per share of Common Stock, in each case, subject to adjustment as provided in the applicable GLF
Warrant Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_13"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As provided in the applicable GLF Warrant Agreement, the shares of Common Stock offered and sold pursuant to this prospectus will be delivered
by Tidewater directly to warrantholders upon the exercise of GLF Warrants, when and to the extent such warrantholder elects to exercise such GLF Warrants, subject to the limitations set forth in the Tidewater charter intended to comply with the
Jones Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tidewater&#146;s Common Stock is listed on the NYSE under the symbol &#147;TDW.&#148; The transfer agent for Tidewater Common
Stock is Computershare Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_14"></A>THE WARRANTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a result of the business combination, Tidewater assumed the GLF Warrants and will be obligated to issue shares of Common Stock to the
holders of GLF Warrants from time to time in the future, in amounts determined by such holders through their exercise of these GLF Warrants, subject to the limits set forth in the Tidewater charter intended to comply with the Jones Act, and the
shares of Common Stock subject to this registration statement are being registered for this purpose. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There are two series of GLF
Warrants: (i)&nbsp;GLF Jones Act Warrants, which may be exercised at any time until November&nbsp;14, 2042 for an exercise price of $0.01 per share, and (ii)&nbsp;GLF Equity Warrants, which may be exercised at any time until November&nbsp;14, 2024
for an exercise price of $100.00 per share. Each series of GLF Warrant is subject to the terms and conditions of a warrant agreement, which was amended in connection with the business combination and assumed by Tidewater effective upon the closing
(the &#147;GLF Jones Act Warrant Agreement&#148; and the &#147;GLF Equity Warrant Agreement&#148; and together, the &#147;GLF Warrant Agreements&#148;). Although all of the GLF Warrants are immediately exercisable, exercise of any GLF Warrants is
subject to, among other things, the limitations on foreign ownership as set forth in the Tidewater charter that are intended to comply with the Jones Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Specifically, the Jones Act, which applies to companies that engage in maritime transportation of merchandise and passengers between points in
the United States (known as marine cabotage services or coastwise trade), requires, among other things, that the aggregate ownership of common stock of a publicly-traded company by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens not exceed
25% of its outstanding common stock. Therefore, in order to ensure compliance with the Jones Act, Tidewater&#146;s charter restricts ownership of the total number of shares of capital stock by all <FONT STYLE="white-space:nowrap">non-U.S.</FONT>
citizens to not more than 24% in the aggregate and restricts ownership of the total number of shares of capital stock by any individual <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen to not more than 4.9%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As adjusted by the merger agreement and the applicable GLF Warrant Agreement, each GLF Warrant represents the right to receive 1.100 shares of
Common Stock upon payment to Tidewater of the applicable exercise price and subject to the other terms and conditions of the applicable GLF Warrant Agreement, including the limitations on foreign ownership as set forth in the Tidewater charter that
are intended to comply with the Jones Act. As provided in the applicable GLF Warrant Agreement, no fractional shares will be issued upon the exercise of GLF Warrants; rather, in exchange for payment of the applicable aggregate <FONT
STYLE="white-space:nowrap">per-share</FONT> exercise price, an exercising warrantholder will be entitled to receive a number of shares of Common Stock equal to all GLF Warrants of that series being exercised by such holder multiplied by 1.100,
rounded down to the nearest whole share, with cash paid in lieu of any fractional share based on the closing price of a share of Common Stock on the NYSE on November&nbsp;14, 2018, the last trading day prior to the closing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the GLF Warrants is not complete and is qualified by reference to the applicable GLF Warrant Agreement. With
respect to the GLF Jones Act Warrants, the two documents constituting the GLF Jones Act Warrant Agreement are filed as Exhibits 4.3 and 4.4 to, and are incorporated by reference into, this prospectus. With respect to the GLF Equity Warrants, the two
documents constituting the GLF Equity Warrant Agreement are filed as Exhibits 4.5 and 4.6 to, and are incorporated by reference into, this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_15"></A>DESCRIPTION OF TIDEWATER COMMON STOCK AND WARRANTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The following summary of the material terms of Tidewater common stock and warrants and the material provisions of the Tidewater charter, the Tidewater
bylaws, and the warrant agreements does not purport to be complete and is qualified by reference to the full text of the Tidewater charter, the Tidewater bylaws, and the applicable warrant agreements, each of which is attached as an Exhibit to, and
incorporated by reference into, this registration statement. </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_16"></A>General </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The authorized capital stock of Tidewater consists of 125,000,000 shares of common stock, par value $0.001 per share, of which 39,231,039 shares were
outstanding as of November&nbsp;4, 2019 and 3,000,000 shares of preferred stock, no par value per share, none of which were outstanding as of November&nbsp;4, 2019. As of November&nbsp;4, 2019, the outstanding shares of common stock were held by 720
stockholders of record. All outstanding shares of Tidewater common stock are fully paid and nonassessable. The unissued portion of Tidewater&#146;s authorized common stock are available for issuance as the board of directors of Tidewater (the
&#147;Tidewater Board&#148;) determines advisable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater has also established long-term incentive compensation plans as incentives for certain
eligible employees and currently sponsors two such plans &#150; the 2017 Stock Incentive Plan (the &#147;2017 Plan&#148;) and the Legacy GulfMark Management Incentive Plan (the &#147;GLF MIP&#148;), which Tidewater assumed in the business
combination with GulfMark, converting the number of shares subject to outstanding restricted stock units as well as the number of additional shares remaining available to grant to shares of Tidewater common stock based on the exchange ratio. The
only type of long-term incentive award that Tidewater has outstanding is restricted stock units. As of September&nbsp;30, 2019, there were 670,001 restricted stock units outstanding under the 2017 Plan and 234,510 restricted stock units outstanding
under the GLF MIP, each of which represents the right to receive a share of Tidewater common stock in the future, provided the applicable vesting conditions are met. Subject to the terms and conditions of the applicable plan and NYSE listing rules,
Tidewater may issue up to 1,417,484 additional shares of common stock under the 2017 Plan and up to 633,174 additional shares of common stock under the GLF MIP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, Tidewater has five series of outstanding warrants, three series of which were issued during the 2017 restructuring: (1)&nbsp;Series A warrants,
(2)&nbsp;Series B warrants (together with the Series&nbsp;A warrants, the &#147;equity warrants&#148; or the &#147;TDW Equity Warrants&#148;) and (3)&nbsp;warrants issued to certain holders of Tidewater&#146;s unsecured notes, certain lenders under
Tidewater&#146;s credit agreement <FONT STYLE="white-space:nowrap">pre-restructuring,</FONT> and the lessor parties to certain sale leaseback agreements (the &#147;creditor warrants&#148; or the &#147;TDW Jones Act Warrants&#148;) who did not
establish their status as U.S. Citizens during the restructuring. Two series of warrants were assumed as a result of the business combination with GulfMark: (1)&nbsp;GLF Equity Warrants and (2)&nbsp;GLF Jones Act Warrants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The TDW Equity Warrants have <FONT STYLE="white-space:nowrap">six-year</FONT> terms and are exercisable through July&nbsp;31, 2023. Each TDW Equity Warrant
represents the right to purchase one share of Tidewater common stock, par value $0.001 per share, at the applicable exercise price, subject to certain adjustments as provided in the equity warrant agreement pursuant to which the equity warrants were
issued. All unexercised equity warrants will expire, and the rights of the holders of TDW Equity Warrants to purchase shares of Tidewater common stock will terminate on the first to occur of (i)&nbsp;the close of business on July&nbsp;31, 2023, or
(ii)&nbsp;upon their earlier exercise or settlement in accordance with the terms of the equity warrant agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The TDW Jones Act Warrants have <FONT
STYLE="white-space:nowrap">25-year</FONT> terms and are exercisable through July&nbsp;31, 2042. Each TDW Jones Act Warrant represents the right to purchase one share of Tidewater common stock, par value $0.001, upon payment of an exercise price
equal to the par value of Tidewater common stock. All unexercised TDW Jones Act Warrants will expire, and the rights of the holders of Tidewater Jones Act Warrants to purchase shares of Tidewater common stock will terminate on the first to occur of
(i)&nbsp;the close of business on July&nbsp;31, 2042 or (ii)&nbsp;upon settlement of all TDW Jones Act Warrants validly exercised or converted prior to July&nbsp;31, 2042 and, if exercised or converted under the terms of the creditor warrant
agreement pursuant to which the TDW Jones Act Warrants were issued, by purchasing one share of Tidewater common stock at the exercise price, for which the exercise price was timely paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of September&nbsp;30, 2019, there were outstanding Series&nbsp;A warrants to purchase 2,432,432 shares of Tidewater common stock, with an exercise price of
$57.06&nbsp;per share, outstanding Series&nbsp;B warrants to purchase 2,629,657 shares of Tidewater common stock, with an exercise price of $62.08&nbsp;per share, and outstanding creditor warrants to purchase 1,329,884 shares of Tidewater common
stock, with an exercise price of $0.001 per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The GLF Equity Warrants have seven-year terms and are exercisable through November&nbsp;14, 2024. Each
GLF Equity Warrant represents the right to purchase 1.100 shares of Tidewater common stock, par value $0.001 per share, for an exercise price of $100.00 per share, subject to certain adjustments as provided in, and all other terms and conditions of,
the GLF Equity Warrant Agreement under which such warrants were issued (as assumed and amended by Tidewater), including the limitations on foreign ownership as set </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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forth in the Tidewater charter that are intended to comply with the Jones Act. All unexercised GLF Equity Warrants will expire, and the rights of the holders of GLF Equity Warrants to purchase
shares of Tidewater common stock will terminate on the first to occur of (i)&nbsp;the close of business on November&nbsp;14, 2024 or (ii)&nbsp;upon their earlier exercise or settlement in accordance with the terms of the GLF Equity Warrant
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The GLF Jones Act Warrants have <FONT STYLE="white-space:nowrap">25-year</FONT> terms and are exercisable through November&nbsp;14, 2042. Each
GLF Jones Act Warrant represents the right to purchase 1.100 shares of Tidewater common stock, par value $0.001 per share, for an exercise price of $0.01 per share, subject to certain adjustments as provided in, and all other terms and conditions
of, the GLF Jones Act Warrant Agreement under which such warrants were issued (as assumed and amended by Tidewater), including the limitations on foreign ownership as set forth in the Tidewater charter that are intended to comply with the Jones Act.
All unexercised GLF Jones Act Warrants will expire, and the rights of the holders of GLF Jones Act Warrants to purchase shares of Tidewater common stock will terminate on the first to occur of (i)&nbsp;the close of business on November&nbsp;14, 2042
or (ii)&nbsp;upon their earlier exercise or conversion in accordance with the terms of the GLF Jones Act Warrant Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Immediately following the
closing, there were 783,009 outstanding GLF Equity Warrants to purchase up to 861,310 shares of Tidewater common stock, with an exercise price of $100.00 per share, and 2,339,658 outstanding GLF Jones Act Warrants to purchase up to 2,573,624 shares
of Tidewater common stock, with an exercise price of $0.01 per share. As of September&nbsp;30, 2019, there were 783,009 outstanding GLF Equity Warrants to purchase up to 861,310 shares of Tidewater common stock, with an exercise price of $100.00 per
share, and 1,181,641 outstanding GLF Jones Act Warrants to purchase up to 1,299,806 shares of Tidewater common stock, with an exercise price of $0.01 per share. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_17"></A>Common Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Voting
Rights</I>. Tidewater has only one outstanding class of stock and all voting rights are vested in the holders of Tidewater common stock. On all matters subject to a vote of stockholders, including the election of directors, the stockholders of
Tidewater will be entitled to one vote for each share of common stock owned. Stockholders of Tidewater do not have cumulative voting rights with respect to the election of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Dividend Rights</I>. Subject to the rights granted to any holders of Tidewater preferred stock, holders of Tidewater common stock are entitled to receive
dividends, if any, in the amounts and at the times declared by the Tidewater Board in its discretion out of any assets or funds of Tidewater legally available for the payment of dividends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Liquidation Rights</I>. Upon the dissolution, liquidation or winding up of Tidewater&#146;s business, subject to the rights, if any, of the holders of any
outstanding series of preferred stock, holders of Tidewater common stock are entitled to receive the assets of Tidewater available for distribution to its stockholders ratably in proportion to the number of shares of common stock held by them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Assessment and Redemption</I>. Shares of Tidewater common stock presently outstanding are validly issued, fully paid and nonassessable. There is no
provision for any voluntary redemption of Tidewater common stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Preemptive Rights</I>. Holders of Tidewater common stock do not have any preemptive
right to subscribe to an additional issue of its common stock or to any security convertible into such stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Limitations on Ownership by <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens</I>. Tidewater owns and operates U.S.-flag vessels in U.S. coastwise trade; accordingly, it is subject to the Jones Act, which, subject to limited exceptions, restricts maritime transportation
between points in the United States (known as marine cabotage services or coastwise trade) to vessels built in the United States, registered under the U.S. flag, manned by predominantly U.S. crews, and owned and operated by U.S. citizens within the
meaning of the Jones Act. Under the Jones Act, at least 75% of the outstanding shares of each class or series of the capital stock of Tidewater must be owned and controlled by U.S. citizens. In order to ensure compliance with the Jones Act coastwise
citizenship requirement that at least 75% of Tidewater&#146;s outstanding common stock is owned by U.S. citizens, the Tidewater certificate of incorporation restricts ownership of the shares of its outstanding common stock by <FONT
STYLE="white-space:nowrap">non-U.S.</FONT> citizens in the aggregate to not more than 24%. The Tidewater certificate of incorporation further prohibits the acquisition of shares by a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen where
(i)&nbsp;such acquisition would cause the aggregate number of shares held by all <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens to exceed 24% of Tidewater&#146;s issued and outstanding common stock and (ii)&nbsp;such acquisition would
cause the aggregate number of shares held by any individual <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen to exceed 4.9% of Tidewater&#146;s issued and outstanding common stock. The Tidewater certificate of incorporation further provides
the Tidewater Board with authority to redeem any share of common stock that is owned by a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen that would result in ownership by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens in the
aggregate in excess of 24% of Tidewater&#146;s issued and outstanding common stock. The Tidewater certificate of incorporation further provides that Tidewater may require beneficial owners of its common stock to confirm their citizenship from time
to time through written statement or affidavit and could, </P>
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at the discretion of the Tidewater Board, suspend the voting rights of such beneficial owner, pay into an escrow account dividends or other distributions (upon liquidation or otherwise) with
respect to such shares held by such beneficial owner and restrict, prohibit or void the transfer of such shares and refuse to register such shares of Tidewater common stock held by such beneficial owner until confirmation of its citizenship status
is received. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Transfer Agent</I>. The transfer agent for Tidewater common stock is Computershare Inc. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_18"></A>Certain Provisions of the Tidewater Certificate of Incorporation and Bylaws </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Indemnification and Limitations on Liability of Directors and Officers </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As permitted by the Delaware General Corporation Law (the &#147;DGCL&#148;), the Tidewater certificate of incorporation contains provisions that eliminate the
personal liability of Tidewater&#146;s directors and officers to Tidewater and Tidewater&#146;s stockholders to the fullest extent permitted by the DGCL. However, these provisions do not limit or eliminate the rights of Tidewater or any stockholder
to seek an injunction or any other <FONT STYLE="white-space:nowrap">non-monetary</FONT> relief in the event of a breach of a director or officer&#146;s fiduciary duty and do not limit or eliminate the liability of directors under the federal
securities laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the Tidewater certificate of incorporation provides that Tidewater will indemnify and advance expenses to, and hold
harmless, each of Tidewater&#146;s directors and officers, to the fullest extent permitted by applicable law, who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative, by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director or officer of Tidewater or, while holding such office or serving in such
position, is or was serving at the request of Tidewater as a director, officer or agent of another entity or enterprise, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including
attorney&#146;s fees), judgments, fines and amounts paid in settlement (except for judgments, fines and amounts paid in settlement in any action or suit by or in the right of Tidewater to procure a judgment in its favor) actually and reasonably
incurred by such person. The Tidewater certificate of incorporation further provides that it shall only be required to indemnify a person potentially eligible for indemnification (as specified above) in connection with a proceeding commenced by such
person if the commencement of such proceeding (or part thereof) by the person was authorized by the Tidewater Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The DGCL permits Tidewater to
purchase and maintain insurance on behalf of any person who is a director or officer for acts committed in their capacities as such directors or officers. Tidewater currently maintains such liability insurance. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Anti-Takeover Provisions </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain provisions of the DGCL
and the Tidewater certificate of incorporation and bylaws may have an anti-takeover effect and may delay, defer or prevent a merger, acquisition, tender offer, takeover attempt or other change of control transaction or other attempts to influence or
replace Tidewater&#146;s incumbent directors and officers. These provisions are summarized below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Section</I><I></I><I>&nbsp;203 of the DGCL</I>.
Section&nbsp;203 of the DGCL generally prohibits any &#147;business combination,&#148; including mergers, sales and leases of assets, issuances of securities and similar transactions, by a corporation or a subsidiary with an &#147;interested
stockholder&#148; who beneficially owns 15% or more of a corporation&#146;s voting stock, within three years after the person or entity becomes an interested stockholder, unless: (i)&nbsp;the transaction that will cause the person or entity to
become an interested stockholder is approved by the board of directors of the corporation prior to the transaction; (ii)&nbsp;after the completion of the transaction in which the person or entity becomes an interested stockholder, the interested
stockholder holds at least 85% of the voting stock of the corporation not including shares held by officers and directors of interested stockholders or shares held by specified employee benefit plans; or (iii)&nbsp;after the person or entity becomes
an interested stockholder, the business combination is approved by the corporation&#146;s board of directors and holders of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the corporation&#146;s outstanding voting stock, excluding
shares held by the interested stockholder. The Tidewater certificate of incorporation incorporates Section&nbsp;203 (except for Section&nbsp;203(b)(4)) and provides that such provisions will govern even if Tidewater does not have a class of voting
stock that is (i)&nbsp;listed on a National Securities Exchange, (ii)&nbsp;authorized for quotation on an interdealer quotation system of a registered national securities association or (iii)&nbsp;held of record by more than 2,000 stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Authorized but Unissued Shares of Common Stock</I>. The Tidewater certificate of incorporation authorizes the Tidewater Board to issue authorized but
unissued shares of common stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Undesignated Preferred Stock</I>. The Tidewater certificate of incorporation provides the Tidewater Board with the
authority to determine and fix the powers, preferences, rights, qualifications, limitations and restrictions of shares of preferred stock issued by the Tidewater Board. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>No Cumulative Voting</I>. Holders of Tidewater common stock do not have cumulative voting rights in the
election of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Requirements for Advance Notification of Stockholder Nominations and Proposals</I>. The Tidewater bylaws provide advance notice
procedures for stockholders to nominate candidates for election as directors at Tidewater&#146;s annual and special meetings of stockholders and for stockholders seeking to bring business before its annual meeting of stockholders. The Tidewater
bylaws also specify certain requirements regarding the form and content of a stockholder&#146;s notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Special Meetings of Stockholders</I>. The
Tidewater bylaws allow only the Tidewater Board to call special meetings of stockholders. Tidewater stockholders are not able to call special meetings of stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Stockholder Action by Written Consent</I>. The Tidewater certificate of incorporation provides that any action required or permitted to be taken at a
stockholders&#146; meeting may be taken only upon the vote of the stockholders at such meeting and may not be taken by written consent of the stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Amendments of Certain Provisions of the Tidewater Certificate of Incorporation</I>. The Tidewater certificate of incorporation requires the affirmative
vote of at least 80% of the voting power of the outstanding shares of Tidewater&#146;s capital stock, voting together as a single class, to amend, repeal or adopt any provision inconsistent with the provision of its charter prohibiting stockholders
acting by written consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Size of Tidewater Board and Vacancies</I>. Subject to the Specified Period Governance Provisions (defined below), the
Tidewater bylaws provide that the Tidewater Board shall consist of five or more members, the exact number to be fixed by the Tidewater Board from time to time. The Tidewater bylaws further provide that, subject to the rights of holders of any series
of preferred stock to elect directors under specific circumstances, any newly created directorships resulting from an increase in the authorized number of directors and any vacancies occurring in the Tidewater Board, may be filled by the affirmative
vote of a majority of the remaining members of the board, although less than a quorum, or a sole remaining director. As required by the Tidewater bylaws, immediately following the closing of the business combination with GulfMark, the Tidewater
Board consisted of ten members, three of whom were GulfMark designated directors. If, at any time prior to the 2020 annual meeting of Tidewater stockholders, a seat held by a GulfMark designated director is vacated, the Tidewater bylaws give the
remaining GulfMark designated directors certain rights with respect to appointing a replacement for that seat, subject to applicable law and the directors&#146; fiduciary duties (together with other bylaw provisions specifically adopted to enforce
these commitments, the &#147;Specified Period Governance Provisions&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Amendments of the Tidewater Bylaws</I>. The Tidewater bylaws may only be
adopted, amended, or repealed by either a majority of Tidewater&#146;s directors and a majority of Tidewater&#146;s continuing directors, voting as a separate group (except that in order to amend, modify or repeal the Specified Period Governance
Provisions, a vote of at least 85% of the Tidewater Board at the time of such amendment, repeal or modification is required), or the holders of at least 80% of the total voting power of all stockholders and
<FONT STYLE="white-space:nowrap">two-thirds</FONT> of the total voting power of stockholders, other than any related person, present or duly represented at a stockholders&#146; meeting voting as a separate group. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Limitations on Ownership by <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Citizens</I>. Because Tidewater owns and operates U.S.-flag vessels in U.S.
coastwise trade, it is subject to the Jones Act, which, subject to limited exceptions, restricts maritime transportation between points in the United States (known as marine cabotage services or coastwise trade) to vessels built in the United
States, registered under the U.S. flag, manned by predominantly U.S. crews, and owned and operated by U.S. citizens within the meaning of the Jones Act. Under the Jones Act, at least 75% of the outstanding shares of each class or series of the
capital stock of Tidewater must be owned and controlled by U.S. citizens. In order to ensure compliance with the Jones Act coastwise citizenship requirement that at least 75% of Tidewater&#146;s outstanding common stock is owned by U.S. citizens,
the Tidewater certificate of incorporation restricts ownership of the shares of its outstanding common stock by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens in the aggregate to not more than 24%. The Tidewater certificate of
incorporation further prohibits the acquisition of shares by a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen where (i)&nbsp;such acquisition would cause the aggregate number of shares held by all
<FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens to exceed 24% of Tidewater&#146;s issued and outstanding common stock and (ii)&nbsp;such acquisition would cause the aggregate number of shares held by any individual <FONT
STYLE="white-space:nowrap">non-U.S.</FONT> citizen to exceed 4.9% of Tidewater&#146;s issued and outstanding common stock. The Tidewater certificate of incorporation further provides the Tidewater Board with authority to redeem any share of common
stock that is owned by a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizen that would result in ownership by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> citizens in the aggregate in excess of 24% of Tidewater&#146;s issued and
outstanding common stock. The Tidewater certificate of incorporation also provides that Tidewater may require beneficial owners of its common stock to confirm their citizenship from time to time through written statement or affidavit and could, at
the discretion of the Tidewater Board, suspend the voting rights of such beneficial owner, pay into an escrow account dividends or other distributions (upon liquidation or otherwise) with respect to such shares held by such beneficial owner and
restrict, prohibit or void the transfer of such shares and refuse to register such shares of Tidewater common stock held by such beneficial owner until confirmation of its citizenship status is received. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Choice of Forum </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Tidewater certificate of incorporation provides that unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the
State of Delaware will, to the fullest extent permitted by applicable law, be the sole and exclusive forum for: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any derivative action or proceeding brought on Tidewater&#146;s behalf; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any action asserting a claim of breach of a fiduciary duty owed by any current of former director, officer,
employee or agent of Tidewater or Tidewater&#146;s stockholders; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any action asserting a claim arising pursuant to any provision of the DGCL, Tidewater&#146;s certificate of
incorporation or bylaws; or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any action asserting a claim governed by the internal affairs doctrine. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Court of Chancery of the State of Delaware lacks jurisdiction over such action or proceeding, the sole and exclusive forum for such action or
proceeding shall be another court of the State of Delaware or, if no court of the State of Delaware has jurisdiction, then the federal district court for the District of Delaware. Tidewater&#146;s certificate of incorporation also provides that any
person or entity holding, purchasing or otherwise acquiring any interest in shares of Tidewater&#146;s capital stock will be deemed to have consented to the personal jurisdiction of the Court of Chancery of the State of Delaware (or if the Court of
Chancery does not have jurisdiction, another court of the State of Delaware, or if no court of the State of Delaware has jurisdiction, the federal district court for the District of Delaware) in any proceeding brought to enjoin any action by that
person or entity that is inconsistent with the exclusive jurisdiction provided for Tidewater&#146;s certificate of incorporation. To the fullest extent permitted by applicable law, if any action the subject matter of which is within the scope of the
exclusive forum provision is filed in a court other than as specified above in the name of any stockholder, such stockholder shall be deemed to have consented to (a)&nbsp;the personal jurisdiction of the Court of Chancery of the State of Delaware,
another court in the State of Delaware or the federal district court in the District of Delaware, as appropriate, in connection with any action brought in any such court to enforce the exclusive forum provision and (b)&nbsp;having service of process
made upon such stockholder in any such action by service upon such stockholder&#146;s counsel in the action as agent for such stockholder </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Although
Tidewater believes these provisions will benefit it by providing increased consistency in the application of Delaware law for the specified types of actions and proceedings, the provisions may have the effect of discouraging lawsuits against
Tidewater&#146;s directors, officers, employees and agents. The enforceability of similar exclusive forum provisions in other companies&#146; certificates of incorporation has been challenged in legal proceedings, and it is possible that, in
connection with one or more actions or proceedings described above, a court could rule that this provision in Tidewater&#146;s certificate of incorporation is inapplicable or unenforceable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="toc841303_19"></A>Shares Eligible for Future Sale </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All of the shares of Tidewater common stock that were issued in exchange for shares of GulfMark upon completion of the business combination are freely tradable
without restriction or registration under the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater cannot predict the effect, if any, that future sales of shares of its common
stock, or the availability of shares for future sales, will have on the market price prevailing from time to time. The sale of substantial amounts of shares of Tidewater common stock, or the perception that such sales could occur, could adversely
affect the prevailing market price of the shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_20"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jones Walker LLP will pass upon the validity of the common stock offered in this offering. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_21"></A>EXPERTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
consolidated financial statements of Tidewater Inc. and subsidiaries incorporated in this prospectus by reference from Tidewater Inc.&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2018
and the effectiveness of Tidewater Inc. and subsidiaries&#146; internal control over financial reporting have been audited by Deloitte&nbsp;&amp; Touche LLP, an independent registered public accounting firm, as stated in their reports (which reports
express an unqualified opinion on the financial statements and include an explanatory paragraph referring to fresh-start reporting and express an unqualified opinion on the effectiveness of internal control over financial reporting), which are
incorporated herein by reference. Such consolidated financial statements have been so incorporated in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The consolidated financial statements of GulfMark Offshore, Inc. (the Company) as of December&nbsp;31, 2017 (Successor) and for the periods of
November&nbsp;15, 2017 to December&nbsp;31, 2017 (Successor), January&nbsp;1, 2017 to November&nbsp;14, 2017 (Predecessor), and for the year ended December&nbsp;31, 2016 (Predecessor) have been incorporated by reference herein and in the
registration statement in reliance upon the reports of KPMG LLP, an independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc841303_22"></A><A NAME="toc841303_22"></A>ADDITIONAL INFORMATION AND
INFORMATION INCORPORATED BY REFERENCE </B></P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater files annual, quarterly and current reports, proxy statements and other business and financial
information with the SEC. Tidewater files reports and other business and financial information with the SEC electronically, and the SEC maintains a website located at http://www.sec.gov containing this information. You will also be able to obtain
many of these documents, free of charge, from Tidewater at http://www.tdw.com/ under the &#147;Investor Relations&#148; link and then under the heading &#147;SEC Filings.&#148; </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tidewater has filed a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act with the SEC to register with the
SEC the shares of its common stock being offered in this prospectus. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits and
schedules filed with it. For further information about Tidewater and its common stock, reference is made to the registration statement and the exhibits and schedules filed with it. Statements contained in this prospectus regarding the contents of
any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as
an exhibit to the registration statement. These documents contain important information about the company and its financial condition. </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The SEC allows
Tidewater to incorporate certain information into this prospectus by reference to other information that has been filed with the SEC, which means that we can disclose important information to you by referring you to those documents that are
considered part of this prospectus. All documents that Tidewater files (but not those that Tidewater furnishes) pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of the initial registration statement of which this
prospectus is a part and prior to the effectiveness of the registration statement shall be deemed to be incorporated by reference into this prospectus and will automatically update and supersede the information in this prospectus, and any previously
filed documents. All documents that Tidewater files (but not those that Tidewater furnishes) pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act on or after the date of this prospectus and prior to the termination of the offering of
any of the securities covered under this prospectus shall be deemed to be incorporated by reference into this prospectus and will automatically update and supersede the information in this prospectus, the applicable prospectus supplement and any
previously filed documents. </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any statement contained herein or in a document incorporated or deemed to be incorporated by reference in this prospectus or
the applicable prospectus supplement shall be deemed to be modified or superseded for purposes of this prospectus and such applicable prospectus supplement to the extent that a statement contained in this prospectus or such applicable prospectus
supplement, or in any other subsequently filed document which also is or is deemed to be incorporated by reference in this prospectus and such applicable prospectus supplement, modifies or supersedes such earlier statement. Any statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus or such applicable prospectus supplement. The documents that are incorporated by reference contain important information about Tidewater,
and you should read this prospectus together with any other documents incorporated by reference in this prospectus. </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus incorporates by
reference the following documents that have previously been filed with the SEC by Tidewater (File <FONT STYLE="white-space:nowrap">No.&nbsp;001-06311):</FONT> </P> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019005545/tdw-10k_20181231.htm">December&nbsp;31,
 2018</A>, filed with the SEC on February&nbsp;28, 2019; </P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the fiscal quarters ended <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019016020/tdw-10q_20190331.htm">March&nbsp;31,
 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000156459019031272/tdw-10q_20190630.htm">June&nbsp;
30, 2019</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000156459019042591/tdw-10q_20190930.htm">September&nbsp;30, 2019</A>; </P></TD></TR></TABLE>
<P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> or Form
<FONT STYLE="white-space:nowrap">8-K/A,</FONT> as applicable, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000119312518356307/d679186d8ka.htm">December&nbsp;
21, 2018</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019000653/tdw-8k_20190111.htm">January&nbsp;15, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019002620/tdw-8k_20190212.htm">February&nbsp;
12, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019003244/tdw-8k_20190212.htm">February&nbsp;19, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019009241/tdw-8k_20190322.htm">March&nbsp;26,
2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019009797/tdw-8k_20190326.htm">March&nbsp;28, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000119312519111231/d719401d8k.htm">April&nbsp;
19, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000119312519130757/d705739d8k.htm">May&nbsp;1, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019020389/tdw-8k_20190521.htm">May&nbsp;
24, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019022690/tdw-8k_20190617.htm">June&nbsp;18, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/98222/000156459019026864/tdw-8k_20190724.htm">July&nbsp;
30, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000156459019034070/tdw-8k_20190903.htm">September&nbsp;
4, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000156459019034096/tdw-8k_20190904.htm">September&nbsp;
5, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000156459019034543/tdw-8k_20190912.htm">September&nbsp;
12, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000119312519256198/d808593d8k.htm">September&nbsp;
27, 2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000119312519279310/d827369d8k.htm">October&nbsp;
31, 2019</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/98222/000119312519285921/d823023d8k.htm">November&nbsp;6, 2019</A>; and </P></TD></TR></TABLE>
<P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/98222/000119312517242513/d431632d8k.htm">the description of Tidewater&#146;s
 common stock included in Amendments to our Registration Statement on Form <FONT STYLE="white-space:nowrap">8-A/A</FONT> filed with the SEC on May&nbsp;24, 1993 under the Exchange Act, as amended by Item 5.03 of the Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> filed with the SEC on July&nbsp;31, 2017, and including any amendment or report filed for the purpose of updating such description.</A> </P></TD></TR></TABLE>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You may request copies of this prospectus and any of the documents incorporated by reference herein or certain other information concerning Tidewater, without
charge, upon written or oral request to the company&#146;s principal executive office. The address and telephone number of such principal executive office are listed below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Tidewater Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6002 Rogerdale
Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Suite 600 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houston, Texas
77072 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Attention: Investor Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Telephone: (713) <FONT STYLE="white-space:nowrap">470-5300</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Email: jstanley@tdw.com </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tidewater has not
authorized anyone to provide any information or make any representation about the offering or the company that is different from, or in addition to, that contained in this prospectus or in any of the materials that have been incorporated into this
prospectus. Therefore, if anyone does give you information of this sort, you should not rely on it. If you are in a jurisdiction where offers to sell, or solicitations of offers to purchase, the securities offered by this prospectus, or if you are a
person to whom it is unlawful to direct these types of activities, then the offer presented in this prospectus does not extend to you. The information contained in this prospectus speaks only as of the date of this document unless the information
specifically indicates that another date applies. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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