Brief: Cadeler Contemplates Private Placement, Updates On F-Class Newbuild Option

Cadeler A/S

12/10/2022 15:40

Oct 12 (Reuters) - Cadeler A/S  CADLR.OL :
    * CONTEMPLATED PRIVATE PLACEMENT, PLANNED EXECUTION OF F-CLASS NEWBUILD OPTION AND POTENTIAL
NEW
LETTER OF INTENT FOR O-CLASS VESSEL WITH CUSTOMER
    * CONTEMPLATES ISSUANCE OF NEW SHARES CORRESPONDING TO UP TO 19.9% OF OUTSTANDING SHARES IN
COMPANY
    * OFFER PRICE OF PER SHARE TO BE DETERMINED THROUGH AN ACCELERATED BOOKBUILDING PROCESS
    * IS IN ADVANCED DISCUSSIONS WITH COSCO REGARDING POTENTIAL EXERCISE OF OPTION TO ORDER ONE
ADDITIONAL F-CLASS NEWBUILD
    * EXPECTED VESSEL COST IS ESTIMATED TO BE IN RANGE OF USD 335 - 355 MILLION
    * EXPECTED VESSEL DELIVERY IN JULY 2026
    * EXPECTS IN NEAR FUTURE TO ANNOUNCE ENTERING INTO LETTER OF INTENT, WHICH IN DUE COURSE
COULD
LEAD TO POTENTIAL NEW CUSTOMER CONTRACT
    * POTENTIAL NEW CONTRACT WITH BLUE-CHIP CLIENT FOR UTILIZATION OF ONE OF CO'S O-CLASS
VESSELS OVER
LONG-TERM CONTRACT PERIOD
    * NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE IN PART CO'S PLANNED SECOND
FOUNDATION INSTALLATION NEWBUILD ( F-CLASS)
    * BW ALTOR HAS CONFIRMED ITS INTENTION TO SUBSCRIBE FOR OFFER SHARES UP TO ITS PRO-RATA
SHARE
    * BW ALTOR IS EXPECTED, AS MINIMUM, TO BE ALLOCATED 20% OF OFFER SHARES IN PRIVATE PLACEMENT
/ NOK
EQUIVALENT OF USD 20 MILLION

Source text for Eikon:  ID:nObilXPg4a 
Further company coverage:  CADLR.OL 
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