The F-4 registration statement was publicly filed with the United States Securities and Exchange Commission (SEC) in respect of the proposed business combination of Cadeler and Eneti.
The completion of the proposed transaction remains subject to customary closing conditions, including the approval of Eneti’s shareholders, the combination is expected to close within Q4 2023. The combined group will be named Cadeler and will be headquartered in Copenhagen, Denmark, with Mikkel Gleerup continuing as CEO and Peter Brogaard Hansen continuing as CFO.
Post combination, Cadeler and Eneti shareholders will own approximately 60% and 40% of the combined company, respectively, using the share counts as of 16 June 2023 and assuming all outstanding Eneti shares are exchanged for Cadeler shares in an exchange ratio of 3.409 Cadeler shares for every Eneti share. The business agreement combination is unanimously supported by the Board of Directors of both Eneti and Cadeler. Upon regulatory approval, the shareholders of Eneti will receive the tender offer. Prior to closing of the proposed business combination, the two companies will remain entirely separate, operating independently of one another.
