Tidewater Inc.

09/27/2024 | Press release | Distributed by Public on 09/27/2024 14:47

Regulation FD Disclosure Form 8 K

Item 7.01. Regulation FD Disclosure.

As previously disclosed, on September 16, 2024, Tidewater Inc., a Delaware corporation (the "Company"), instructed the Nordic Trustee as the trustee for the Company's 10.375% senior unsecured bonds due 2028 (ISIN NO0012952227) (the "Bonds") to summon a bondholders' meeting for September 30, 2024 (the "Bondholders' Meeting"). The purpose of the Bondholders' Meeting was to consider certain amendments to the terms of the Bonds in furtherance of the Company's previously announced evaluation of options to establish a more flexible debt capital structure. Based upon preliminary feedback received from the holders of the Bonds, on September 27, 2024, the Company informed the Bond Trustee that it was withdrawing its proposal and the Bondholders' Meeting will be cancelled.

This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 which are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. Additional information concerning these and other important risks and uncertainties can be found in the Company's filings with the U.S. Securities and Exchange Commission, including under the captions "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances. In addition, the Company can offer no assurance that it will be successful in obtaining the consents necessary to amend the terms of the Bonds or that it will be successful in its efforts to establish a more flexible capital structure.