Transocean Ltd. (RIG) saw a 6.13% drop in share prices on Monday, closing at $2.91 apiece as investors reacted negatively to a planned debt-to-equity swap program. The company’s net loss in Q2 widened by 663% to $938 million, while revenues increased by 14.7% to $988 million.

In a regulatory filing, Transocean revealed a $39.7 million bond swap with certain shareholders, where bondholders agreed to exchange bonds for shares at a price based on the daily volume-weighted average price over a five-day period. The company currently has a total backlog of $7.2 billion as of July 2025.

Read more at Yahoo Finance: Transocean (RIG) Falls on Planned $39.7-Million Debt-to-Equity Swap