The transaction will be funded through a combination of debt, convertible debt, newly issued common shares to the Lematta family and existing Columbia management and cash from Bristow's balance sheet. Bristow has secured fully-committed debt and convertible debt financing for the transaction. The Lematta family and existing Columbia management, which is committed to leading the Columbia operating subsidiary, will roll over $77 million of their current ownership (including ownership in certain equity awards) into Bristow common stock, up to a maximum of approximately 7.1 million shares. Bristow remains focused on deleveraging and maintaining a strong liquidity position.
Baker Botts represented Bristow in connection with the financing.
For additional information, please see Bristow’s press release here.
Baker Botts Lawyers/Office Involved:
Corporate: John Geddes (Partner, Houston); A.J. Ericksen (Partner, Houston); Sarah Berens (Senior Associate, Houston); Lakshmi Ramanathan (Associate, Houston); Emmie Proctor (Associate, Houston)
Finance: Rachael Lichman (Partner, Houston); Lyman Paden (Partner, Houston); Shelley Austin (Special Counsel, Austin); Sarah Christian (Associate, Austin); Malory Weir (Associate, Houston); Samantha Chestney (Associate, Houston)
Restructuring: Manny Grillo (Partner, New York)
Employee Benefits: Gail Stewart (Partner, Houston); Chris Pratt (Special Counsel, Houston); Marian Fielding (Associate, Dallas)
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