On March 18, 2026, Great Lakes Dredge & Dock Corporation (the "Company") and Saltchuk Resources, Inc. ("Saltchuk") issued a joint press release announcing that Saltchuk has commenced a cash tender offer (the "Tender Offer") to purchase any and all of the Company’s outstanding 5.25% Senior Notes due 2029 (the "Notes"). This move is part of a broader strategy as Saltchuk is also soliciting consents from holders of the Notes to amend certain provisions of the indenture under which the Notes were issued. The proposed amendments aim to eliminate restrictive covenants and certain events of default, which could enhance the operational flexibility of the Company. The Tender Offer is expected to have a positive impact on the Company’s liquidity position, allowing it to manage its debt more effectively. The press release indicates that if holders of a majority in principal amount of the outstanding Notes deliver consents, the proposed amendments will take effect, potentially leading to a more favorable financial structure for the Company. Further details regarding the Tender Offer and Consent Solicitation are outlined in Saltchuk’s Offer to Purchase and Consent Solicitation Statement dated March 18, 2026. This development is anticipated to positively influence the stock price of Great Lakes Dredge & Dock Corporation as it reflects proactive financial management and strategic planning.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.