Seadrill paid USD 1.20 per share for 82 million shares in the private placement of Archer, amounting to USD 98.4 million. The company will also receive 2.8 million shares in Archer as commission for underwriting the transaction. After the deal closes, Seadrill will own 231 million shares (39.9%) in Archer.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.