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NEWS | US Restructuring Bristow US

Bristow Announces Stock Repurchases

Bristow negotiated stock repurchase agreements valued $4.8M. Bristow ERA merger preliminary registration became effective May 5, 2020





Bristow Announces Stock Repurchases
Bristow, June 03, 2020 - HOUSTON - Bristow Group Inc announced entry into privately negotiated stock repurchase agreements to repurchase 142,721 shares of its common stock and 98,784 shares of its preferred stock at an aggregate purchase price of approximately $4.8 million (collectively, the "Repurchases").

The closing of the Repurchases is subject to a number of conditions, including the repayment of all amounts outstanding under, and the termination of, Bristow's term loan and the satisfaction or waiver of all of the conditions to Bristow's contemplated merger with Era Group Inc.

All shares of common and preferred stock repurchased in connection with the Repurchases will be canceled. Following the closing of the Repurchases, which is expected to occur immediately prior to the completion of the contemplated merger, Bristow will have 11,092,845 shares of common stock outstanding and 6,725,798 shares of preferred stock outstanding.

About Bristow Group Inc: Bristow is the world's leading provider of offshore oil and gas transportation, search and rescue ("SAR") and aircraft support services to government and civil organizations worldwide.

Bristow's strategically located global fleet supports operations in the North Sea, Nigeria and the U.S. Gulf of Mexico; as well as in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Guyana and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the United Kingdom on behalf of the Maritime and Coastguard Agency.

About Era Group: Era Group Inc is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the U.S. In addition to servicing its U.S. customers, Era provides helicopters and related services to customers and third-party helicopter operators in other countries, including Brazil, Chile, Colombia, India, Mexico, Spain, and Suriname.

Era's helicopters are primarily used to transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. In addition, Era's helicopters are used to perform emergency response services, firefighting, utility, VIP transport and other services. Era also provides a variety of operating lease solutions and technical fleet support to third party operators.

Bristow Era Merger


In connection with Bristow's proposed merger with Era, on April 3, 2020, Era filed with the Securities and Exchange Commission (the "SEC") a preliminary registration statement on Form S-4, as amended by Amendment No. 1 thereto filed on April 23, 2020 (the "Registration Statement"), which became effective May 5, 2020.

On May 6, 2020, Era filed with the SEC a final prospectus pursuant to Rule 424(b)(3) that included the final joint proxy and consent solicitation statement of Era and Bristow that also constitutes a final prospectus of Era (the "Final Joint Proxy and Consent Statement/Prospectus"). Era and Bristow commenced mailing the Final Joint Proxy and Consent Statement/Prospectus to their respective stockholders on May 14, 2020.

Era and Bristow also plan to file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Final Joint Proxy and Consent Statement/Prospectus, the registration statement or any other document which Era or Bristow may file with the SEC in connection with the proposed transaction.


Bristow Announces Stock Repurchases





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