Item 1.01. Entry into a Material Definitive Agreement.

On August 9, 2022, Tidewater Inc. (the "Company") entered into an Underwriting Agreement (the "Underwriting Agreement") between the Company and Morgan Stanley & Co. LLC (the "Underwriter") with respect to the offer and sale of 3,520,000 shares of the Company's common stock, par value $0.001 per share ("Common Stock") by the Company at a price to the public of $17.850 per share resulting in total gross proceeds to the Company of approximately $62,832,000 million (the "Offering"). Pursuant to the terms of the Underwriting Agreement, the Underwriter was granted and has exercised in full a 30-day over-allotment option to purchase up to an additional 528,000 shares of Common Stock, resulting in total net proceeds (before expenses) to the Company from the Offering of approximately $70,629,504 million. The shares of Common Stock were delivered against payment therefor on August 12, 2022.

The Offering was conducted pursuant to the Company's Registration Statement on Form S-3, File No. 333-234686 (the "Registration Statement"), including a prospectus relating to the shelf securities, dated July 20, 2021 as supplemented by the preliminary and final prospectus supplements specifically relating to the shares contemplated under the Agreement, dated August 9, 2022, filed with the Securities and Exchange Commission ("SEC") pursuant to Rule 424(b) of the Securities Act. A copy of the legal opinion of Norton Rose Fulbright US LLP relating to the legality of the issuance and sale of the shares of Common Stock in the Offering is attached to this Current Report on Form 8-K as Exhibit 5.1.

The Underwriting Agreement includes customary representations, warranties and covenants by the Company. It also provides for customary indemnification by each of the Company and the Underwriter against certain liabilities arising out of or in connection with the sale of the Common Stock and for customary contribution provisions in respect of those liabilities. In addition, subject to certain exceptions, the Company, its executive officers, directors and one of its shareholders have agreed not to sell or otherwise dispose of any of the shares of Common Stock or securities convertible into or exchangeable or exercisable for any shares of Common Stock held by them for a period ending 90 days after the date of the prospectus supplement without first obtaining the written consent of the Underwriter.

Additionally, on August 9, 2022, the Company entered into a Warrant Repurchase Agreement (the "Warrant Repurchase Agreement") between the Company and Banyan Overseas Limited ("Banyan"), pursuant to the terms of which the Company will use the net proceeds of the Offering to repurchase from Banyan of a number of warrants exercisable for shares of our common stock equal to the number of shares of our common stock sold in the Offering.

The foregoing descriptions of the Underwriting Agreement and the Warrant Repurchase Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, copies of which are filed as Exhibit 1.1 and 1.2, respectively, to this Current Report on Form 8-K and is incorporated herein by reference.

The Underwriting Agreement and the Warrant Repurchase Agreement have been filed with this Current Report on Form 8-K to provide investors and security holders with information regarding their terms and are not intended to provide any other factual information about the Company. The representations, warranties and covenants contained in the Underwriting Agreement and the Warrant Repurchase Agreement and were made only for purposes of each such agreement and as of specific dates, were solely for the benefit of the parties to each such agreement and may be subject to limitations agreed upon by the contracting parties. The representations and warranties may have been made for the purposes of allocating contractual risk between the parties to the respective agreement instead of establishing these matters as facts and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Underwriting Agreement or the Warrant Repurchase Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations and warranties may change after the dates of the Underwriting Agreement and the Warrant Repurchase Agreement, which subsequent information may or may not be fully reflected in the Company's public disclosures.



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Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties. The risks and uncertainties involved include the Company's ability to satisfy certain conditions to closing on a timely basis or at all, market conditions, and other risks detailed from time to time in the Company's periodic reports and other filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company's current expectations and assumptions and speak only as of the date of this Current Report on Form 8-K. The Company does not intend to revise or update any forward-looking statement in this Current Report on Form 8-K as a result of new information, future events or otherwise, except as required by law.

Item 3.03 Material Modifications to Rights of Security Holders

The information contained above in Item 1.01 is hereby incorporated by reference into this Item 3.02.




Item 8.01. Other Events.

On August 9, 2022 and August 10, 2022, the Company issued press releases announcing that it had launched and priced the Offering. Copies of the press releases are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

1.1 Underwriting Agreement, dated August 9, 2022, by and between Tidewater Inc.

and Morgan Stanley & Co. LLC.

1.2 Warrant Repurchase Agreement, dated August 9, 2022, by and between

Tidewater Inc. and Banyan Overseas Limited.

5.1 Opinion of Norton Rose Fulbright US LLP.

23.1 Consent of Norton Rose Fulbright US LLP (included as part of Exhibit 5.1

hereto).





99.1   Press Release issued August 9, 2022 by Tidewater Inc.



99.2   Press Release issued August 10, 2022 by Tidewater Inc.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)





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