As previously disclosed, the Series A Warrants and Series B Warrants were issued to holders of Tidewater’s pre-emergence common stock upon the Company’s emergence from chapter 11 reorganization in accordance with the Company’s Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization.
The Series A Warrants have an exercise price of $57.06 per share, subject to adjustment as provided in the terms of the Series A Warrant, and the Series B Warrants have an exercise price of $62.28 per share, subject to adjustment as provided in the terms of the Series B Warrant. Additional information on the terms of the Series A Warrants and Series B Warrants can be found in the Company’s Registration Statement on Form 8-A filed with the Securities and Exchange Commission on August 1, 2017.
Tidewater is the leading provider of Offshore Service Vessels (OSVs) to the global energy industry.
SOURCE Tidewater Inc.
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