The redomiciliation is effectively complete with 92.06% tendered. The remaining ~8% will be cashed out at NOK 58.42 per share. Monitor the start of trading of NewCo shares on NYSE and OSE on or around November 5, 2026, and the delisting of Cadeler A/S shares and ADSs.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 2 $27.50entry
- T+1 · yesterday −6.91%α −7.21% · $25.60
- T+2 · todayOpen
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outExecutive Summary
Cadeler plc (NewCo) filed Amendment No. 3 to its Schedule TO, reporting the final results of its exchange offer to redomicile Cadeler A/S from Denmark to the UK. A total of 355,404,839 Cadeler Shares (92.06% of outstanding) were validly tendered, exceeding the 90% minimum condition. The offer is now closed, and settlement is expected on or around November 4, 2026, with NewCo shares trading on NYSE and OSE on or around November 5, 2026. A cash squeeze-out at NOK 58.42 per share will be initiated for remaining holders, funded by a EUR 220 million bridge facility from DNB Bank ASA.
Key Financial Metrics
Key Facts
- 355,404,839 Cadeler Shares (92.06% of outstanding) validly tendered and not withdrawn
- Includes 11,156,931 Cadeler Shares represented by Cadeler ADSs
- Offeror will accept and exchange all validly tendered shares
- Settlement expected on or around November 4, 2026
- NewCo shares to begin trading on NYSE and OSE on or around November 5, 2026
- Cash squeeze-out at NOK 58.42 per share for remaining holders, funded by EUR 220 million bridge facility from DNB Bank ASA
- This is a final amendment reporting results of the tender offer
Financial Impact
Exchange of all Cadeler shares for NewCo shares on a 1:1 basis; cash squeeze-out at NOK 58.42 per share for non-tendering holders, funded by EUR 220 million bridge facility
Risk Factors
- Remaining non-tendering shareholders may challenge the squeeze-out process or valuation
- Potential delays in settlement or commencement of trading of NewCo shares
- Currency risk for the cash squeeze-out (NOK) relative to the EUR-denominated bridge facility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC TO-T/A Filing (Primary) | 0001104659-26-120923 |
| Document: 0001104659-26-120923-index-headers.html | 0001104659-26-120923 |
| Document: 0001104659-26-120923-index.html | 0001104659-26-120923 |
| Document: 0001104659-26-120923.txt | 0001104659-26-120923 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | SC 13D/A | $26.05 | awaiting T+1 | awaiting T+1 | $25.84 (−0.81%) |
Nov 4, 2026 today | 6-K | $25.94 | awaiting T+1 | awaiting T+1 | $25.84 (−0.38%) |
Nov 4, 2026 today | 6-K | $26.99 | awaiting T+1 | awaiting T+1 | $25.84 (−4.26%) |
Nov 3, 2026 1d ago | 6-K | $25.60 $25.84 | ▲ +0.94% | ▼ −0.71% | $25.84 (+0.94%) |
Nov 3, 2026 1d ago | 6-K | $25.60 $25.84 | ▲ +0.94% | ▼ −0.71% | $25.84 (+0.94%) |
Nov 2, 2026 2d ago | SC TO-T/A | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.84 (−6.04%) |
Nov 2, 2026 2d ago | 425 | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.84 (−6.04%) |
Nov 2, 2026 2d ago | 6-K | $27.50 $25.60 | ▼ −6.91% | ▼ −7.21% | $25.84 (−6.04%) |
Oct 29, 2026 6d ago | SC 14D-9/A | $26.69 $28.76 | ▲ +7.76% | ▲ +9.53% | $25.84 (−3.18%) |
Oct 29, 2026 6d ago | SC TO-T/A | $26.69 $28.76 | ▲ +7.76% | ▲ +9.53% | $25.84 (−3.18%) |
US Market Status
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