Annual report pursuant to Section 13 and 15(d)

Note 20 - Subsequent Events

v3.19.1
Note 20 - Subsequent Events
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Subsequent Events [Text Block]
20.
SUBSEQUENT EVENTS
 
On
January 9, 2019,
the Company acquired
three
FSVs in exchange for the private placement of
603,872
shares of its common stock to domestic U.S. holders affiliated with the McCall family of Louisiana. The Company has operated the acquired vessels for the past
ten
years under a revenue sharing pooling agreement that included
four
of its owned FSVs of similar specification.  In accordance with its terms, this pooling agreement was terminated. 
 
On
January 25, 2019,
Seabulk Overseas, a wholly-owned subsidiary of SEACOR Marine, acquired a
6.25%
minority interest in Windcat Workboats that it did
not
previously own upon the exercise of a put option by
one
of the
two
minority owners pursuant to the terms of a certain Subscription and Shareholders Agreement, as amended, for consideration of
£1,552,780
(
$2.0
million).  In addition, the other minority owner has exercised a put option to sell its
6.25%
minority interest in Windcat Workboats to the Company, and the parties have
not
yet closed the sale.  The
two
acquisitions will result in Seabulk Overseas owning
100%
of Windcat Workboats, a consolidated subsidiary which owns and operates the Company's crew transfer vessels that are primarily used to move personnel and supplies in Europe’s offshore wind markets.