Tidewater Inc. to Suspend Trading Ahead of Warrant Expiry – SEC Filing

Tidewater Inc. (NYSE: TDW) revealed in a recent 8-K filing to the Securities and Exchange Commission that it will be suspending trading activities as it approaches the expiry date for warrants issued by GulfMark Offshore, Inc. The suspension is anticipated to commence before the market opens on Wednesday, November 13, 2024.

The warrants, totaling 782,993 and assumed by Tidewater Inc. in 2018, are exercisable for 861,292 shares at an exercise price of $100.00 each. With an expiry date set for Thursday, November 14, 2024, at 5:00 p.m. Eastern Time, the New York Stock Exchange (NYSE) has taken the initiative to halt trading to facilitate timely settlement.

The filed 8-K further cautions investors by including forward-looking statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to a range of risks and uncertainties, potentially causing actual results to diverge from the forward-looking estimates. Interested parties are advised to delve into the Company’s submissions to the SEC for a comprehensive overview of these risks under the headings ‘Forward-Looking Statements’ and ‘Risk Factors’ in the Form 10-K for the fiscal year ending December 31, 2023.

The document also disclosed that an Exhibit (104) containing a Cover Page Interactive Data File, integrated within an Inline XBRL document, will be made available for public access.

Tidewater Inc. emphasized within the filing that it bears no obligation to update any forward-looking statements to reflect subsequent events or changing circumstances.

This report was signed on behalf of Tidewater Inc. by Daniel A. Hudson, the Executive Vice President, General Counsel, and Secretary, on November 1, 2024.

The full details surrounding this proceeding and the implications for Tidewater Inc. stakeholders can be observed in the official SEC filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tidewater’s 8K filing here.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.