TechnipFMC (NYSE: FTI) announces the launch of the placement of 25 million Technip Energies shares, representing ca. 14% of Technip Energies’ share capital, through a private placement by way of an accelerated bookbuild offering.

Technip Energies has indicated it will purchase from TechnipFMC €20.0 million equivalent of shares at the price of the Placement. This purchase is separate from the Placement.

Upon completion of the Placement and the Concurrent Sale to Technip Energies, TechnipFMC would retain a direct stake of ca. 31% of Technip Energies’ share capital.

TechnipFMC has agreed to a 60-day lock-up for its remaining shares in Technip Energies, subject to waiver from the Joint Global Coordinators (as defined below) and certain other customary exceptions, including transfer of shares to a subsidiary, granting and enforcement of security interests in connection with financing and derivative transactions and tender into any public tender offer for all or part of the shares.

The Placement is targeted at eligible institutional investors. There will be no public offering in any country.

The final terms of the Placement are expected to be announced on 27 April at the latest. Settlement for the Placement is expected to take place on or around 30 April 2021.