false 0000098222 0000098222 2024-09-16 2024-09-16 0000098222 us-gaap:CommonStockMember 2024-09-16 2024-09-16 0000098222 us-gaap:WarrantMember 2024-09-16 2024-09-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 16, 2024

 

 

 

Tidewater Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware 1-6311 72-0487776

(State or other jurisdiction

of incorporation)

 (Commission
File Number)

(IRS Employer

Identification No.)

 

845 West Sam Houston Parkway North, Suite 400

Houston, Texas

   77024
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (713) 470-5300

 

Not Applicable

(Former Name or Former Address, If Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading
Symbol(s)

   Name of each exchange on which
registered
Common stock, $0.001 par value per share   TDW   New York Stock Exchange
Warrants to purchase shares of common stock   TDW.WS   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2).

 

Emerging Growth Company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 7.01. Regulation FD Disclosure.

 

On September 16, 2024, Tidewater Inc., a Delaware corporation (the "Company"), instructed 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 purpose of the bondholders’ meeting is to consider a proposal for certain amendments to the terms of the Bonds.  The Company is proposing such amendments as part of its previously announced evaluation of options to establish a more flexible debt capital structure discussed during its 2nd quarter 2024 earnings call.

 

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.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  TIDEWATER INC.
     
Date: September 16, 2024 By: /s/ Daniel A. Hudson
    Daniel A. Hudson
    Executive Vice President, General Counsel and Secretary

 

 

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Cover
Sep. 16, 2024
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Sep. 16, 2024
Entity File Number 1-6311
Entity Registrant Name Tidewater Inc.
Entity Central Index Key 0000098222
Entity Tax Identification Number 72-0487776
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 845 West Sam Houston Parkway North
Entity Address, Address Line Two Suite 400
Entity Address, City or Town Houston
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77024
City Area Code 713
Local Phone Number 470-5300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security Common stock, $0.001 par value per share
Trading Symbol TDW
Security Exchange Name NYSE
Warrant [Member]  
Document Information [Line Items]  
Title of 12(b) Security Warrants to purchase shares of common stock
Trading Symbol TDW.WS
Security Exchange Name NYSEAMER
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