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Underwriters pick up option to buy 750,000 shares in Borr Drilling IPO

Borr Drilling Ltd. announced underwriters in its recently announced IPO have exercised the overallotment option to buy an additional 750,000 shares at the price of $9.30 per share, less underwriting discounts and commissions, according to an Aug. 2 release.

The company said the total number of shares sold during the IPO came in at 5.75 million, with settlement of the offering, including the overallotment shares, expected to occur late Aug. 2.

Goldman Sachs & Co. LLC and DNB Markets Inc. are acting as joint book-running managers. BTIG LLC, Citigroup Global Markets Inc., Danske Markets Inc., Evercore Group LLC and Fearnley Securities Inc. are also acting as book-running managers.