Transocean Ltd. Announces Pricing of Upsized Public Offering of Shares
Vinson & Elkins advised the underwriters, led by Morgan Stanley & Co. LLC and Citigroup Global Markets Inc., in connection with an upsized underwritten public offering of 125,000,000 shares of Transocean Ltd. (NYSE: RIG) (“Transocean”) at a price to the public of $3.05 per share.
The offering reflects an increase from the 100,000,000 Transocean shares originally proposed to be sold. In connection with the offering, Transocean granted the underwriters an option for a period of 30 days to purchase up to an additional 18,750,000 Transocean shares at the public offering price, less underwriting discounts, and commissions, which the underwriters fully exercised prior to closing. The offering is expected to close on Friday, September 26, 2025, subject to customary closing conditions.
The Vinson & Elkins corporate team was led by partners Mike Telle and Ben Heriaud and associate Walt Baker, with assistance from associates Patience Li, Ryan Dolmanet, and Ishaan Golding. Also advising were partner Wendy Salinas and associates Jeff Slusher and Addy Jackson.
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