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Perestroika, a ten percent owner of Transocean Ltd (NYSE:RIG), reported purchasing 4,000,000 registered shares of the company on September 26, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were bought at a price of $3.05, for a total transaction value of $12,200,000. The purchase comes as Transocean trades at just 0.36 times book value, with analysts projecting a return to profitability this year despite recent stock volatility. According to InvestingPro data, the stock’s current Fair Value suggests it is fairly valued.
Following the transaction, Perestroika’s holdings in Transocean amounted to 95,074,894 shares. The shares are held directly by Perestroika (Cyprus) Ltd., a wholly owned subsidiary of Perestroika AS. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS. With revenue growth of 23% in the last twelve months and an EBITDA of $1.26 billion, investors can access deeper insights into insider trading patterns and comprehensive financial analysis through InvestingPro’s detailed research reports.
In other recent news, Transocean Ltd . announced the pricing of a $500 million private offering of Senior Priority Guaranteed Notes due 2032, with an interest rate of 7.875% per annum. This move follows a revision by S&P Global Ratings, which adjusted Transocean’s outlook to stable from negative, citing improved liquidity due to recent equity issuances and a proposed debt offering. The company raised approximately $195 million through share issuances in July and August 2025 and closed another equity issuance in September, netting $421 million. Additionally, Transocean’s subsidiary has launched a $50 million cash tender offer to purchase up to $50 million of its outstanding notes, targeting two series of notes in priority order.
Another key development is Transocean’s plan to offer 100 million shares in a public offering, with an option for underwriters to purchase an additional 15 million shares. The proceeds from this offering are intended to repay or redeem debt, including a portion of the $655 million in 8.00% Senior Notes due February 2027. These financial maneuvers are part of Transocean’s broader strategy to manage its debt and improve its financial standing.
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