TechnipFMC has announced the sale of 25 million Technip Energies shares, representing circa 14% of Technip Energies’ share capital, through a private placement by way of an accelerated bookbuild offering. The sale price of the Shares in the Placement is set at EUR 11.10 per share, yielding total gross proceeds of EUR 277.5 million.
Concurrently with the placement, Technip Energies will purchase from TechnipFMC ca. 1.8 million shares (equivalent to 1% of share capital) at EUR 11.10 per share, corresponding to the price of the Placement (concurrent sale to Technip Energies). This purchase is separate from the pPlacement.
Upon completion of the placement and the concurrent sale to Technip Energies, TechnipFMC retains a direct stake of ca. 31% of Technip Energies’ share capital.
TechnipFMC has agreed to a 60-day lock-up for its remaining shares in Technip Energies, subject to waiver from the Joint Global Coordinators involved in the Placement and certain other customary exceptions, including transfer of shares to a subsidiary, granting and enforcement of security interests in connection with financing and derivative transactions and tender into any public tender offer for all or part of the shares.
The Placement was conducted without a public offering in any country and was open to eligible institutional investors.