SeaBird, BOA Enter Final Agreement for Two Vessels Buy

Photo: BOA

SeaBird and BOA SBL have entered into final agreements to acquire the BOA Galatea and BOA Thalassa vessels.

Earlier this month the company received bondholders approval for the acquisition.

With the final agreements now signed, all conditions for completion of the Private Placement have been satisfied, SeaBird informed.

Following issue of the private placement shares, the company will have 492,820,612 shares outstanding, each of par value USD 0.01.

Following closing of the acquisition of the vessels, expected on or around medio June 2019, a further 46,110,745 shares will be issued as part consideration to the sellers of the vessels, and the remaining part of the purchase price will be paid in cash, financed through the private placement.

“The acquisition of the vessels will provide SeaBird with two quality vessels at a very attractive price, further strengthening the company’s position and service offering in the 2D, source and niche 3D markets,” SeaBird said.

The company earlier said that values the vessels at NOK 185 million (close to $22 million).

ABG Sundal Collier, Fearnley Securities and SpareBank 1 Markets act as financial advisors to the company in connection with the acquisition of the vessels and the private placement, and Advokatfirmaet Schjødt  acts as Norwegian legal advisors to the company.

Share this article

Follow Subsea World News

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >