<SEC-DOCUMENT>0001140361-22-028965.txt : 20220810
<SEC-HEADER>0001140361-22-028965.hdr.sgml : 20220810
<ACCEPTANCE-DATETIME>20220810060148
ACCESSION NUMBER:		0001140361-22-028965
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220810
FILED AS OF DATE:		20220810
DATE AS OF CHANGE:		20220810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Borr Drilling Ltd
		CENTRAL INDEX KEY:			0001715497
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39007
		FILM NUMBER:		221150242

	BUSINESS ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
		BUSINESS PHONE:		4722483000

	MAIL ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ny20004983x2_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div><br>
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    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div><br>
    </div>
    <div style="text-align: center;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</div>
    <div style="text-align: center;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">August 10, 2022</div>
    <div><br>
    </div>
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    <div style="text-align: center; font-weight: bold;">Commission File Number: 001-39007</div>
    <div><br>
    </div>
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    <div style="text-align: center; font-size: 24pt; font-weight: bold;">Borr Drilling Limited</div>
    <div><br>
    </div>
    <div>
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    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">S.E. Pearman Building</div>
    <div style="text-align: center; font-weight: bold;">2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup> Floor 9 Par-la-Ville Road</div>
    <div style="text-align: center; font-weight: bold;">Hamilton HM11 Bermuda</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">(Address of principal executive offices)</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; Yes <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</font> No &#9744;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&#160; &#160; &#160; &#160; &#160; &#160;&#160; Yes &#9744; No &#9746;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&#160; &#160; &#160; &#160; &#160; &#160;&#160; Yes &#9744; No <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</font>
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
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    <div><br>
    </div>
    <div><u>Exhibits</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z12a6d7163957485f8f46107f84d480a8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 5.26%; vertical-align: top;" nowrap="nowrap">
            <div><a href="ny20004983x2_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 94.74%; vertical-align: top;">
            <div>Press release, dated August 10, 2022</div>
          </td>
        </tr>

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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
    <div> <br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc030e18a9ef248f3b1d1596d41a27b41" border="0" cellpadding="0" cellspacing="0">

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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-weight: bold;">BORR DRILLING LIMITED</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 45%; vertical-align: middle;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
            <div>Date: August 10, 2022</div>
          </td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Mi Hong Yoon<br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div>&#160;Mi Hong Yoon</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div>&#160;Director</div>
          </td>
        </tr>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ny20004983x2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 99.1</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Borr Drilling Announces Pricing of Public Offering of Common Shares</div>
    <div><br>
    </div>
    <div><font style="font-weight: bold;">Hamilton, Bermuda, August 10, 2022. </font>Borr Drilling Limited (the &#8220;Company&#8221;) (NYSE and OSE: BORR) announces today that it&#160; has priced its previously announced offering of 69,444,444 common shares, at a price
      of $3.60 per common share for total gross proceeds of $250 million.&#160; The Company has also granted the underwriters a 30-day option to purchase up to an additional 6,944,444 common shares at the offering price minus underwriting discounts.</div>
    <div><br>
    </div>
    <div>No securities in the offering were offered or will be listed on Oslo Stock Exchange.</div>
    <div><br>
    </div>
    <div>The Company plans to use the proceeds from the offering to consummate a refinancing with its lenders under its Syndicated Facility, New Bridge Facility, Hayfin Facility and shipyard delivery financing arrangements with Keppel and PPL, and for
      general corporate purposes, which may include, among other things, repayments of its debt obligations, payments to its creditors in return for potential concessions or extensions of current facilities, capital expenditures, including costs in
      connection with activations and re-activations of rigs being brought into operations, or funding of its working capital.</div>
    <div><br>
    </div>
    <div>Closing of the offering is subject to (i) the Company&#8217;s authorized share capital being increased by 40,000,000 common shares, pursuant to a special general meeting to be held on August 16, 2022, (ii) the Company&#8217;s authorized share capital being
      further increased by 35,000,000 common shares pursuant to a second special general meeting to be held on August 25, 2022, and (iii) the Company having entered into binding term sheets or other binding agreements with all applicable lenders (or
      obtaining written commitments approved by the Company&#8217;s Board of Directors) under its Syndicated Facility, New Bridge Facility, Hayfin Facility and shipyard delivery financing arrangements with Keppel and PPL for a refinancing of those facilities on
      the terms previously announced by the Company, no later than the time of the special general meeting to be held on August 16, 2022.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">A first settlement of the offering is expected on August 17, 2022, subject to fulfilment of the conditions described in (i) and (iii) above. A second settlement is expected on August 26, 2022, for the remainder of the
      shares, provided all the conditions described above are satisfied.</div>
    <div><br>
    </div>
    <div>DNB Markets, Clarksons Securities, Pareto Securities, ABG Sundal Collier ASA, Arctic Securities AS, Fearnley Securities and&#160; SpareBank 1 Markets are the book-running managers for the offering.&#160; Cleaves Securities AS is a co-manager for the
      offering.</div>
    <div><br>
    </div>
    <div>The offering was made pursuant to an effective automatic shelf registration statement, which has been filed by the Company with the Securities and Exchange Commission (&#8220;SEC&#8221;) on July 26, 2022. The offering of the common shares was made only by
      means of a prospectus and a related prospectus supplement. You may obtain these documents for free by visiting EDGAR on the SEC&#8217;s website at www.sec.gov. Alternatively, the final prospectus supplement and accompanying prospectus related to the
      offering may be obtained, when available, by contacting DNB Markets, Inc., Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no.</div>
    <div><br>
    </div>
    <div>This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the
      registration or qualification under the securities laws of any such jurisdiction.</div>
    <div><br>
    </div>
    <div>This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">About Borr Drilling Limited</div>
    <div><br>
    </div>
    <div>Borr Drilling Limited is an international drilling contractor incorporated in Bermuda in 2016 and listed on the Oslo Stock Exchange on August 30, 2017 and on the New York Stock Exchange on July 31, 2019 under the ticker &#8220;BORR&#8221;. The Company owns
      and operates jack-up rigs of modern and high specification designs and provides services focused on the shallow water segment to the offshore oil and gas industry worldwide. Please visit the Company&#8217;s website at: www.borrdrilling.com</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Forward-Looking Statements</div>
    <div><br>
    </div>
    <div>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221;
      &#8220;expect,&#8221; or other similar expressions. These forward-looking statements include statements with respect to the offering, the conditions to the offering, including the refinancing with certain of its lenders, the intended use of proceeds, and other
      non-historical statements.&#160; The forward-looking statements included in this press release are subject to significant risks, uncertainties, contingencies and factors that may cause the Company&#8217;s actual results, performance or achievements to be
      materially different from those expressed or implied by the forward-looking statements including risks related to the conduct of the offering, the use of proceeds, whether the conditions to closing of the offering will be met, the risk that the
      Company will not consummate the proposed refinancing, the number of shares to be sold in the offering and other risks described in the Company&#8217;s most recent Annual Report on Form 20-F and other filings of the Company with the SEC. The forward-looking
      statements made in this press release speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new
      information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events.</div>
    <div><br>
    </div>
    <div>August 10, 2022</div>
    <div><br>
    </div>
    <div>The Board of Directors</div>
    <div>Borr Drilling Limited</div>
    <div>Hamilton, Bermuda</div>
    <div><br>
    </div>
    <div>Contact:</div>
    <div>Magnus Vaaler: CFO, +47 22483000</div>
    <div> <br>
    </div>
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