UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) December 19, 2017
TIDEWATER INC.
(Exact name of registrant as specified in its charter)
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Delaware |
1-6311 |
72-0487776 |
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601 Poydras Street, Suite 1500 New Orleans, Louisiana |
70130 (Zip Code) |
(504) 568-1010
(Registrant's telephone number, including area code)
N/A
(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)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §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 accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On December 19, 2017, pursuant to an ROV Equipment Purchase Agreement between Tidewater Subsea ROV, L.L.C., Tidewater ROV Limited and an independent ROV services provider (ROVOP) dated November 29, 2017, Tidewater Inc. (the “Company”) completed the sale of certain ROV equipment and related assets to the buyer for a total purchase price of $23 million. This equipment and related assets constituted substantially all of the remaining assets of the ROV business of the Company. While the Company is no longer a direct provider of ROV equipment, the Company intends to maintain expertise and the capacity to provide subsea vessel support, equipment and services for potential future customer requirements.
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SIGNATURE
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 thereunto duly authorized.
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TIDEWATER INC. |
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By: |
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/s/ Bruce D. Lundstrom |
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Bruce D. Lundstrom |
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Executive Vice President, General Counsel and Secretary |
Date: December 19, 2017
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