04:31 PM EDT, 09/24/2025 (MT Newswires) -- Transocean ( RIG ) plans to sell 100 million shares in an underwritten public offering and grant underwriters a 30-day option to buy up to an additional 15 million shares.

Net proceeds will be used to repay or redeem debt, including part of the $655 million in 8% senior notes due February 2027 issued by the Transocean International subsidiary, the company said Wednesday in a statement.

Any remaining proceeds will be for general corporate purposes.

The company's shares fell 13% in after-hours trading.