Archer (ARHVF) has released an update.
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Archer Limited plans to acquire Wellbore Fishing & Rental Tools, LLC for USD 51.5 million, funding the deal through a USD 40 million equity capital raise and USD 10 million in consideration shares. The company will conduct a private placement divided into two tranches, with major shareholders Paratus and Hemen participating significantly. This strategic move aims to strengthen Archer’s market position and enhance shareholder value.
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