Update

28 Jun 2024 17:17 CEST

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Issuer

Sea1 Offshore Inc.

Reference is made to the stock exchange notice published on 5 April 2024,
regarding a sale of nine vessels to a major shareholder in exchange for 35.7% of
the Company's shares and MUSD 117.5 in debt assumption. The transaction is
expected to close during July 2024.

As previously communicated, the Company has for some time had dialogues with
banks and experienced strong interest and appetite regarding a refinancing of
the debt that matures in December 2024. Repayment of debt and drawdown of new
credit facilities are expected to take place simultaneously with the sale of the
nine vessels.

For further information, please contact:
Bernt Omdal, Chief Executive Officer, Sea1 Offshore Inc. Phone +47 915 22 299
Vidar Jerstad, Chief Financial Officer, Sea1 Offshore Inc. Phone +47 934 26 335

More information:
Access the news on Oslo Bors NewsWeb site

Source

Sea1 Offshore Inc.

Provider

Oslo Børs Newspoint

Company Name

Sea1 Offshore Inc.

ISIN

KYG812291253

Symbol

SEA1

Market

Oslo Børs

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Siem Offshore Inc. published this content on 28 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2024 15:40:56 UTC.