Hercules to buy Seahawk Drilling

摘要

Hercules Offshore, Inc. entered into an asset purchase agreement with Seahawk Drilling, Inc. and its affiliates to purchase 20 jack-up rigs and related assets from Seahawk for about 22.3 million shares of Hercules Offshore commonrnstock and cash consideration of $25 million, which will be used primarily to pay off a debtor loan, which Seahawk secured in connection with its bankruptcy filing to support the business and provide liquidity prior to the closing of the transaction.