Eneti Inc.

NETI

Market cap $438M

MONACO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE: NETI) (“Eneti”) and Cadeler A/S (OSE: CADLR) (“Cadeler”), two offshore wind turbine and foundation installation companies, remind shareholders that the expiration date for the share exchange offer (the “Share Exchange Offer”) to acquire all of the issued and outstanding shares of the common stock of Eneti has been extended to 5:30 p.m. Eastern Time on December 14, 2023.

MONACO, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) (“Cadeler”) and Eneti Inc. (NYSE: NETI) (“Eneti”), two offshore wind turbine and foundation installation companies, announced the extension of the expiration date for the share exchange offer (the “Share Exchange Offer”) to acquire all of the issued and outstanding shares of the common stock of Eneti Inc. (NYSE: NETI) (“Eneti”) to 5:30 p.m. Eastern Time on December 14, 2023. In addition, Cadeler has determined pursuant to the terms of the Share Exchange Offer as set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the “Prospectus/Offer to Exchange”) to reduce the minimum tender condition for the Share Exchange Offer from 85.01% to 70%.

MONACO, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) (“Cadeler”) and Eneti Inc. (NYSE: NETI) (“Eneti”), two offshore wind turbine and foundation installation companies, announced the extension of the expiration date for the share exchange offer (the “Share Exchange Offer”) to acquire all of the issued and outstanding shares of the common stock of Eneti Inc. (NYSE: NETI) (“Eneti”) to 5:30 p.m. Eastern Time on December 14, 2023. In addition, Cadeler has determined pursuant to the terms of the Share Exchange Offer as set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the “Prospectus/Offer to Exchange”) to reduce the minimum tender condition for the Share Exchange Offer from 85.01% to 70%.

The consensus price target hints at a 41% upside potential for Eneti (NETI). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

MONACO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE: NETI) (“Eneti” or the “Company”) announced today that the Company executed a previously announced senior secured green term loan facility of up to $436.0 million (the “Credit Facility”) with a group of international banks and export credit agencies co-arranged and co-underwritten by Credit Agricole Corporate and Investment Bank and Société Générale, and with Société Générale as Green Loan Coordinator. The Credit Facility finances approximately 65% of the purchase cost of the Company's two newbuild wind turbine installation vessels (each a “WTIV”), and it includes a commercial tranche of up to $130.8 million, a direct tranche from the Export-Import Bank of Korea (KEXIM) of up to $115.0 million, a guaranteed tranche from Eksportfinansiering Norge (Eksfin) of up to $45.0 million and a covered tranche from Korea Trade Insurance Corporation (K-SURE) of up to $145.2 million. The lenders to the commercial tranche, Eksfin guaranteed tranche and K-SURE covered tranche are Credit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, New York Branch, KfW IPEX-Bank GmbH, Société Générale and The Korea Development Bank.

The Zacks Transportation-Shipping Industry has been a highlight of this earnings season as many of the companies in the space have posted strong quarterly results.

This week's earnings lineup has been highlighted by quite a few small-cap stocks that have strengthening prospects after posting impressive quarterly results on Tuesday.

The average of price targets set by Wall Street analysts indicates a potential upside of 53.6% in Eneti (NETI). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

PBF, NETI, RWEOY, RITM and LEGH have been added to the Zacks Rank #1 (Strong Buy) List on November 15, 2023.

Eneti, Inc. (NYSE:NETI ) Q3 2023 Earnings Conference Call November 14, 2023 9:00 AM ET Company Participants James Doyle - Head, Corporate Development & IR Emanuele Lauro - Co-Founder, Chairman & CEO Sebastian Brooke - Director, Business Development, Seajacks International Limited Conference Call Participants Gregory Lewis - BTIG Benjamin Nolan - Stifel, Nicolaus & Company Liam Burke - B. Riley Securities Adam Forsyth - Longspur Clean Energy Operator Good morning, and welcome to the Eneti Inc. Third Quarter 2023 Conference Call.