Shearman & Sterling advised Morgan Stanley as the sole book-running manager in connection with Tidewater Inc.’s follow-on public offering of 3,987,914 shares of common stock at a public offering price of $30.25 per share, resulting in gross proceeds to Tidewater of approximately $120.6 million, before deducting underwriting discounts and commissions and offering expenses.

The net proceeds from the offering were used to repurchase all remaining warrants held by Banyan Overseas Limited that were issued in connection with Tidewater’s acquisition of Swire Pacific Offshore Holdings Limited (now known as Tidewater Offshore Holdings Limited).

Tidewater provides offshore marine support and transportation services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels. Tidewater’s vessels and associated vessel services provide support for all phases of offshore oil and natural gas exploration, field development and production as well as windfarm development and maintenance.

The Shearman & Sterling team below was supported by associate Danish Hyder (New York-Capital Markets).

The Team