Borr Drilling Completes First Settlement of Share Offering

An update from Borr Drilling ( (BORR) ) is now available.

On July 7, 2025, Borr Drilling Limited announced the first settlement of its public offering of 50 million common shares, raising gross proceeds of $102.5 million. The initial settlement involved 30 million shares, with the remaining shares expected to settle on August 7, 2025, contingent upon shareholder approval of an increase in authorized share capital. The proceeds will be used for general corporate purposes, including debt service and capital expenditures. This move is expected to enhance the company’s financial flexibility and strengthen its market position.

The most recent analyst rating on (BORR) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Borr Drilling stock, see the BORR Stock Forecast page.

Spark’s Take on BORR Stock

According to Spark, TipRanks’ AI Analyst, BORR is a Neutral.

Borr Drilling’s overall score reflects strong operational improvements and revenue growth but is hampered by financial stability issues, such as high leverage and negative cash flow. The technical analysis shows mixed signals, with short-term momentum facing longer-term challenges. Although the valuation is appealing, the suspension of dividends and financial setbacks highlighted in the earnings call weigh on the overall outlook.

To see Spark’s full report on BORR stock, click here.

More about Borr Drilling

Borr Drilling Limited operates in the offshore drilling industry, providing drilling services to the oil and gas sector. The company focuses on the operation of jack-up rigs, which are mobile platforms used for drilling in shallow waters.

Average Trading Volume: 6,050,323

Technical Sentiment Signal: Sell

Current Market Cap: $504.9M

See more insights into BORR stock on TipRanks’ Stock Analysis page.