BRISTOW GROUP INC. (NYSE:BRS) Files An 8-K Other Events
Item 8.01 Other Events
As previously disclosed, on November27, 2018, Bristow Group Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with certain private investors (collectively, the “Note Purchasers”), whereby the Company agreed to issue, and the Note Purchasers agreed to purchase, a minimum of $135million aggregate principal amount of a new series of convertible senior secured notes of the Company (the “Convertible Notes”). The Note Purchasers also had the option, exercisable until December14, 2018, to purchase up to an additional $15million of Convertible Notes. Prior to the expiration of the option period, the Note Purchasers notified the Company that they elected not to exercise their option to purchase additional Convertible Notes.
The closing of the private placement is subject to the satisfaction of certain conditions, including (1)the execution and delivery of definitive documentation with respect to the Convertible Notes in accordance with the terms set forth in the Securities Purchase Agreement, (2)the closing of the previously announced acquisition of Columbia Helicopters, Inc. (“Columbia”) by a subsidiary of the Company and (3)the absence of any material adverse effect with respect to Columbia’s business.
About BRISTOW GROUP INC. (NYSE:BRS)
Bristow Group Inc. is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan. The Africa region consists of all its operations and affiliates on the African continent, including Nigeria, Tanzania and Egypt. The Americas region consists of all its operations and affiliates in North America and South America, including Brazil, Canada, Trinidad and the United States Gulf of Mexico. The Asia Pacific region consists of all its operations and affiliates in Australia and Southeast Asia, including Malaysia and Sakhalin. Additionally, it operates a training unit, Bristow Academy.