The redomiciliation is on track to close by early November 2026. Monitor the squeeze-out process for remaining shareholders and the transition of trading to NewCo shares. The EUR 220 million bridge facility indicates sufficient funding for the squeeze-out.
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 A/S announced plans to suspend trading of its shares on the Oslo Stock Exchange effective on or around November 5, 2026, and to delist its ADSs from the NYSE, following the successful completion of its exchange offer by Cadeler plc. The offer closed with 92.02% of shares tendered, exceeding the 90% minimum condition, and a cash squeeze-out will be initiated for remaining shareholders. This filing is a procedural step in the redomiciliation process from Denmark to the UK, with NewCo shares expected to begin trading on both exchanges on or around November 5, 2026.
Key Financial Metrics
Key Facts
- Cadeler A/S will request suspension of trading in its shares on the Oslo Stock Exchange effective on or around November 5, 2026.
- Last day of trading in Cadeler A/S shares on the Oslo Stock Exchange is expected to be on or around November 4, 2026.
- Trading of Cadeler ADSs on the NYSE is expected to be suspended before market open on or around November 5, 2026, with delisting 10 days thereafter.
- The exchange offer closed with 92.02% of shares validly tendered, exceeding the 90% minimum condition.
- 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.
- Cadeler plc shares are expected to begin trading on the Oslo Stock Exchange and NYSE on or around November 5, 2026.
- The suspension is intended to avoid simultaneous trading of Cadeler A/S and Cadeler plc shares on the Oslo Stock Exchange.
Financial Impact
No new financial terms disclosed; the transaction was previously valued at approximately $2.38 billion based on the September 15, 2026 ADS reference price. A EUR 220 million bridge facility backs the cash squeeze-out.
Risk Factors
- Remaining non-tendering shareholders may face a cash squeeze-out at an undetermined price, potentially below the market value of the shares.
- Delisting of Cadeler A/S shares and ADSs may reduce liquidity for holders who did not tender.
- The squeeze-out process and delisting are subject to regulatory approvals and timelines, which could cause delays.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-119840 |
| Document: 0001104659-26-119840-index-headers.html | 0001104659-26-119840 |
| Document: 0001104659-26-119840-index.html | 0001104659-26-119840 |
| Document: 0001104659-26-119840.txt | 0001104659-26-119840 |
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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