The redomiciliation is proceeding with strong shareholder support. Watch for final results by November 2, 2026, and the commencement of trading of NewCo shares on November 5, 2026. The squeeze-out process for remaining holders and potential dividend distributions from the Cadeler Group to Cadeler plc within 12 months are key follow-up events.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Oct 29 $26.69entry
- T+1 · 6d ago +7.76%α +9.53% · $28.76
- T+4 · todayOpen
- T+5 · in 11h Pending
- T+20 · in 22d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Cadeler plc announced preliminary results of its exchange offer to redomicile Cadeler A/S from Denmark to the UK, with 355,254,085 shares (92.02% of outstanding) validly tendered, exceeding the 90% minimum condition. The offer is now closed, and the deal is expected to settle on or around November 4, 2026, with trading of NewCo shares on NYSE and OSE commencing on or around November 5, 2026. Cadeler plc will initiate a cash squeeze-out for remaining non-tendering holders, funded by a EUR 220 million bridge facility from DNB Bank ASA.
Key Facts
- 355,254,085 Cadeler Shares validly tendered, representing 92.02% acceptance rate
- Offer period expired October 28, 2026; minimum 90% condition satisfied
- Settlement expected on or around November 4, 2026
- Trading of Cadeler plc shares on NYSE and OSE expected on or around November 5, 2026
- Cadeler ADSs on NYSE to be suspended before market open on or around November 5, 2026, with delisting 10 days later
- Cadeler plc intends to initiate compulsory acquisition (squeeze-out) for remaining shares for cash under Danish Companies Act
- EUR 220 million bridge facility from DNB Bank ASA backs potential cash squeeze-out
- Final results expected on or prior to November 2, 2026
Financial Impact
Transaction valued at approximately $2.38 billion based on September 15, 2026 ADS reference price (from prior cross-filing context). EUR 220 million bridge facility for squeeze-out financing.
Risk Factors
- Preliminary results subject to verification; final acceptance rate may adjust slightly
- Squeeze-out process may face legal challenges from non-tendering minority shareholders
- Repayment of the EUR 220 million bridge facility may require upstream dividends or a private placement, potentially affecting cash flows
- Delisting of Cadeler ADSs and OSE shares could reduce liquidity for non-tendered holders
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-119837 |
| Document: 0001104659-26-119837-index-headers.html | 0001104659-26-119837 |
| Document: 0001104659-26-119837-index.html | 0001104659-26-119837 |
| Document: 0001104659-26-119837.txt | 0001104659-26-119837 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | SC 13D/A | $26.05 | awaiting T+1 | awaiting T+1 | $25.60 (−1.73%) |
Nov 4, 2026 today | 6-K | $25.94 | awaiting T+1 | awaiting T+1 | $25.60 (−1.31%) |
Nov 4, 2026 today | 6-K | $26.99 | awaiting T+1 | awaiting T+1 | $25.60 (−5.15%) |
Nov 3, 2026 1d ago | 6-K | $25.60 $25.84 | ▲ +0.94% | ▼ −0.71% | $25.60 (+0.00%) |
Nov 3, 2026 1d ago | 6-K | $25.60 $25.84 | ▲ +0.94% | ▼ −0.71% | $25.60 (+0.00%) |
Nov 2, 2026 2d ago | SC TO-T/A | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.60 (−6.91%) |
Nov 2, 2026 2d ago | 425 | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.60 (−6.91%) |
Nov 2, 2026 2d ago | 6-K | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.60 (−6.91%) |
Oct 29, 2026 6d ago | SC 14D-9/A | $26.69 $28.76 | ▲ +7.76% | ▲ +9.53% | $25.60 (−4.08%) |
Oct 29, 2026 6d ago | SC TO-T/A | $26.69 $28.76 | ▲ +7.76% | ▲ +9.53% | $25.60 (−4.08%) |
US Market Status
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