HLX: SCHEDULE 13D · ownership disclosure
A group of Ares Management-affiliated investment vehicles and executives filed a joint Schedule 13D on Hornbeck Offshore Services under Rule 13d-1(k)(1), disclosing beneficial ownership of the offshore vessel operator's shares. The filers include Ares Partners Holdco LLC and ASOF HOS GP, LLC, whose boards of managers include Ares leaders Michael Arougheti, Kipp deVeer, David Kaplan, Antony Ressler, and Bennett Rosenthal, along with Ares legal officers Evan Hoole, Matthew Jill, and Naseem Sagati Aghili. Because the group filed on Schedule 13D rather than a passive 13G, the disclosure implies active-investment intent; however, the exhibits provided contain only the joint filing agreement and manager roster, so the stake size and stated purpose reside in the core 13D document.
HLX: 8-K/A · acquisition merger
Hornbeck Offshore Services, Inc. (formerly Helix Energy Solutions Group, Inc.) filed Amendment No. 1 to its Form 8-K solely to add the unaudited pro forma financial statements required by Item 9.01(b) for the Helix-Hornbeck business combination completed on September 1, 2026, which is accounted for as a reverse acquisition with legacy Hornbeck as the accounting acquirer. On a pro forma combined basis, the company reported net revenues of $926.2 million and net income of $56.2 million (diluted EPS of $0.17) for the six months ended June 30, 2026, and net revenues of $1,810.8 million and net income of $164.4 million (diluted EPS of $0.50) for the year ended December 31, 2025. The preliminary purchase price consideration for the reverse acquisition of legacy Helix was approximately $1.57 billion, producing $195.4 million of goodwill, and legacy Hornbeck securityholders own roughly 55% of the combined company versus about 45% for legacy Helix securityholders, with the Ares Investor Group holding about a 12% post-closing voting interest. The pro forma balance sheet at June 30, 2026 shows total assets of $3.72 billion, cash of $684.5 million, and long-term debt of $715.4 million, and the combined company trades on the NYSE under the ticker HOS.
HLX: 8-K · leadership change
Hornbeck Offshore Services filed an 8-K (Item 5.02) disclosing that, in connection with the closing of the Transactions under its April 22, 2026 merger agreement, CEO Todd M. Hornbeck entered into a second amended and restated employment agreement with a five-year term, a base salary of not less than $875,000, a 140% target bonus, and a $4,500,000 target long-term incentive opportunity. Five EVPs including CFO Robert P. Adams signed parallel agreements with base salaries of $400,000 to $500,000, 100% target bonuses, and 2x severance on qualifying terminations. The Board adopted the 2026 Omnibus Inducement Incentive Plan reserving 1,500,000 shares without stockholder approval under NYSE Rule 303A.08, and granted Hornbeck 1,000,000 performance-based restricted stock units (up to 1,500,000 shares) vesting half on $75 million of annualized gross synergies run-rate by year-end 2029 and half on stock price hurdles of $14 (target) to $20 (maximum) measured in 2028-2029. Other executives received RSU and option awards with grant-date fair values of $800,000 to $4,500,000, cliff-vesting September 1, 2029. The filing also establishes a director compensation policy with a $100,000 annual cash retainer and $175,000 annual RSU grant, plus special $325,000 RSU grants to directors Transier and Jindal for their work on the Transactions. The overall package locks in post-merger management retention, with CEO severance of 2.5x base salary plus target bonus on qualifying terminations, subject to a Section 280G best-net cutback rather than a tax gross-up.
HLX: 8-K · acquisition merger
Hornbeck Offshore Services furnished an 8-K with an investor presentation confirming its combination with Helix Energy Solutions closed on September 1, 2026, creating an integrated deepwater offshore services company trading on the NYSE as HOS. The combined company fields 85 vessels plus 41 work-class ROVs, generating $1.9 billion of LTM revenue and $551 million of LTM Adjusted EBITDA (a 96% increase versus legacy Hornbeck), with $2.0 billion of total backlog, a ~$3.4 billion market capitalization, 0.4x net leverage, and ~$618 million of pro forma liquidity. Hornbeck holders own 55% of the combined company and Helix holders 45%, with a seven-member board split 4-3. Management targets $75 million of annual revenue and cost synergies within three years of close, and highlights diversification into defense ($160 million LTM revenue, 28% non-oil-and-gas), renewables, and well intervention, supported by two Jones Act-qualified MPSV newbuilds delivering in 2027 and 2028.
HLX: 8-K · auditor change
Hornbeck Offshore Services, Inc. (f/k/a Helix Energy Solutions Group, Inc.) dismissed KPMG LLP as its independent registered public accounting firm effective September 2, 2026, one day after completing its business combination with Legacy Hornbeck Offshore Services and changing its name from Helix to Hornbeck. KPMG's audits of Helix's consolidated financial statements for fiscal years 2025 and 2024 were unqualified, and the company disclosed no disagreements or reportable events; KPMG's standard confirmation letter was filed as Exhibit 16.1. The Audit Committee simultaneously appointed Ernst & Young LLP as successor auditor, with no prior consultations on accounting or audit matters. This is routine post-merger housekeeping, though EY inherits a transition-heavy first audit cycle for the newly combined company.
Helix Energy Solutions Group and Hornbeck Offshore Services completed their two-step merger on September 1, 2026, with the combined company converting to a Delaware corporation and being renamed Hornbeck Offshore Services, Inc. The company's common stock is expected to begin trading on the New York Stock Exchange under the new ticker symbol 'HOS' on September 2, 2026. Each outstanding share of Legacy Hornbeck common stock was converted into the right to receive 10.27167 shares of the combined company's common stock, and Legacy Creditor Warrants converted at a ratio of 7.556 shares per warrant. Consenting Legacy Hornbeck stockholders were also issued an aggregate of 37,818,435 unregistered shares and had 8,617,903 Jones Act Warrants assumed by the company. The closing triggered a full leadership overhaul: Helix CEO Owen Kratz, CFO Erik Staffeldt and General Counsel Ken Neikirk departed, while Todd M. Hornbeck was appointed President and CEO and William L. Transier became Chairman of a reconstituted board that includes Bobby Jindal (designated by the Whitebox Investor) and directors designated by the Ares Investor. Kratz signed a one-year consulting agreement at an $800,000 annualized fee, and Staffeldt and Neikirk each received a $300,000 special bonus. Financing was reset around the closing: the first lien revolving credit facility was increased to $125 million from $75 million with $175 million of uncommitted incremental capacity, while Helix's $120 million asset-based credit facility was terminated with no outstanding borrowings. Pro forma financial information for the combined company will be filed by amendment within 71 days.
Hornbeck and Helix Complete Merger, Creating a Premier Integrated Offshore Services Company
Helix Energy Solutions (HLX) and Hornbeck Offshore Services have completed their all-stock merger, forming a premier integrated offshore services company operating under the Hornbeck name. The combined company will begin trading on the NYSE under the ticker symbol "HOS" on September 2, 2026, while HLX ceased trading at the close of business on September 1. Todd M. Hornbeck has assumed the role of CEO, supported by a new executive leadership team, with the goal of leveraging combined marine and subsea capabilities across deepwater, defense, and renewables markets.
Helix Shareholders Approve Combination with Hornbeck Offshore Services
Helix Energy Solutions shareholders have approved the all-stock combination with Hornbeck Offshore Services, moving the transaction toward its expected September 1 closing. Upon completion, Hornbeck securityholders will own approximately 55% of the combined company, while Helix shareholders will own about 45%. The newly formed entity will operate under the Hornbeck Offshore Services name and trade on the NYSE under the ticker symbol HOS.
HLX: 425 · acquisition merger
Helix Energy Solutions Group issued a shareholder letter ahead of its August 31, 2026 special meeting, urging votes FOR all proposals tied to its proposed business combination with Hornbeck Offshore Services. Proxy advisor ISS recommended FOR the share issuance and second merger proposals but AGAINST the authorized share increase, calling the blank-check preferred authorization excessive; Glass Lewis and Egan-Jones both endorsed the increase. The Authorized Share Increase Proposal would expand authorized capital to 400,000,000 common shares and 10,000,000 preferred shares, and Helix states the Hornbeck transaction cannot be consummated without its approval. Chairman William L. Transier pledged the combined board will not use blank-check preferred for anti-takeover purposes without prior shareholder approval; votes are due by 10:59 p.m. CDT on August 30, 2026.
Helix's Merger With Hornbeck Sets Up A Deep-Value Offshore Play
Are DSGR, HLX, ATAI, CRNX Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a solicitation notice regarding AtaiBeckley Inc.'s proposed sale to Eli Lilly and Company. The firm is investigating whether the transaction terms—$6.75 per share in cash plus a Contingent Value Right—constitute a fair deal or breach fiduciary duties. This is a standard plaintiff-firm solicitation encouraging shareholders to contact counsel on a contingency basis; it is not an issuer disclosure.
HLX: 8-K · other
Helix Energy Solutions filed this 8-K solely to revise and recast portions of its 2025 Form 10-K, presenting the former Shallow Water Abandonment segment (Helix Alliance) as discontinued operations for all periods presented. SEC rules require registrants to recast prior-period financials that are incorporated by reference into an active registration statement. The trigger is twofold: Helix sold Helix Alliance to C-Dive, L.L.C. on May 1, 2026 for $107.5 million in cash consideration, and its Form S-4 for the pending merger with Hornbeck Offshore Services, Inc. was declared effective on July 31, 2026. Helix emphasizes the filing is not an amendment or restatement of the 2025 Form 10-K. On the recast basis, 2025 continuing operations generated net revenues of $1.09 billion (down 7% from 2024), income from continuing operations of $17.9 million, and Adjusted EBITDA from continuing operations of $238.1 million. Consolidated backlog stood at $1.3 billion at December 31, 2025, with $676 million expected to be performed in 2026. Helix ended 2025 with $445.2 million of cash against $308.0 million of total debt, a net cash position of $137.2 million, alongside an $18.1 million impairment on the shut-in Thunder Hawk field.
Helix Energy (HLX) Q2 Earnings and Revenues Beat Estimates
HLX: 8-K · earnings release
Helix Energy Solutions Group reported net income of $22.7 million, or $0.15 per diluted share, for the second quarter 2026, a significant improvement from a net loss of $13.4 million in the first quarter and a net loss of $2.6 million in the same period last year. The company also reported Adjusted EBITDA of $69.9 million for the quarter, driven by strong performance across its Well Intervention and Robotics segments. Helix completed the sale of its Helix Alliance business for $107.5 million in May, generating a net gain of $16 million. The company is making progress on its merger with Hornbeck Offshore Services, which is expected to close on September 1, 2026, subject to shareholder approval at a special meeting on August 31, 2026. Due to the pending merger, Helix has withdrawn its previously issued annual guidance.
Helix Reports Second Quarter 2026 Results
Helix Energy Solutions reported Q2 2026 net income of $22.7 million, or $0.15 per share, swinging from a net loss in the prior year. Revenue increased 21% year-over-year to $304.0 million, driving Adjusted EBITDA of $69.9 million and Free Cash Flow of $46.7 million. Operational improvements were led by Well Intervention revenues up 33% and Production Facilities up 74% following the restart of the Thunder Hawk field. The company also finalized the sale of Helix Alliance in May for $104.2 million, boosting liquidity. Looking ahead, Helix withdrew its annual guidance ahead of the pending merger with Hornbeck, which is scheduled for a shareholder vote on August 31, 2026.
HLX: S-4/A · acquisition merger
Helix Energy Solutions Group Inc. filed an S-4/A amendment regarding its proposed business combination with Hornbeck Offshore Services Inc. Under the merger agreement, each share of Hornbeck common stock will be converted into 10.27167 shares of Helix common stock, resulting in Hornbeck securityholders owning approximately 55% of the combined company on a fully diluted basis. Upon completion, Helix will convert to a Delaware corporation and be renamed "Hornbeck Offshore Services, Inc.," with its ticker changing from HLX to HOS. Todd M. Hornbeck will serve as President and CEO, while William L. Transier will remain Chairman of the combined board, which will be comprised of seven members.
Helix Energy Solutions Group (HLX) announced that the U.S. Federal Trade Commission has granted early termination of the 30-day waiting period for its proposed merger with Hornbeck Offshore Services (HOS). This regulatory approval removes a significant hurdle for the transaction, which was originally announced on April 22, 2026. The merger is now expected to close in the second half of 2026, subject to shareholder approval and the satisfaction of other customary closing conditions. The filing serves as a written communication pursuant to Rule 425, urging investors to review the definitive proxy statement/prospectus filed on Form S-4 before making voting decisions.
Are NATH, HLX, AIRI, OMEX Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a shareholder-solicitation notice naming HLX and three other companies; no new disclosure from the company itself. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
HLX: S-4 · acquisition merger
Helix Energy Solutions Group (HLX) has filed an S-4 registration statement for its proposed acquisition of Hornbeck Offshore Services (HOS). Under the terms of the merger agreement dated April 22, 2026, Hornbeck shareholders will receive 10.27167 shares of Helix common stock for each share of Hornbeck stock held. The transaction will result in a change of control, with Hornbeck shareholders expected to own approximately 55% of the combined company on a fully diluted basis. The combined entity will be renamed Hornbeck Offshore Services, Inc. and will trade under the new ticker symbol HOS on the NYSE. Todd M. Hornbeck will serve as the President and CEO of the combined company, while current Helix Chairman William L. Transier will serve as Chairman of the combined board through the 2028 annual meeting. The mergers are expected to close in the second half of 2026, subject to shareholder approval and regulatory conditions.
Are Investors Undervaluing Helix Energy Solutions Group (HLX) Right Now?
Helix Energy Solutions Group, Inc. filed a Rule 425 communication confirming that integration planning for its merger with Hornbeck Offshore is underway and on track to close in the second half of the year. A joint Integration Committee comprising senior leaders from both companies has been established to guide the work, with an Executive Steering Committee providing strategic oversight. The filing notes that both companies remain separate entities until closing, but the formation of these committees signals reduced execution risk and active progress toward combining the two global organizations.
Is Helix Energy Solutions Group (HLX) Stock Undervalued Right Now?
Wall Street Analysts Believe Helix Energy (HLX) Could Rally 34.81%: Here's is How to Trade
HLX: 8-K · proxy statement
Helix Energy Solutions Group, Inc. held its Annual Meeting of Shareholders on May 13, 2026. The meeting included the election of three Class III directors: Paula Harris, Amy H. Nelson, and William L. Transier, all of whom were elected with a plurality of the shares cast. Shareholders also ratified the selection of KPMG LLP as the Company’s independent registered public accounting firm for 2026, with a majority of the votes cast in favor. Additionally, the shareholders approved, on a non-binding advisory basis, the 2025 compensation of the named executive officers, with a majority of the votes cast in favor.
Helix Energy Solutions Sells Shallow Water Abandonment Business to the Chouest Group
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Should Value Investors Buy Helix Energy Solutions Group (HLX) Stock?
Does Helix Energy (HLX) Have the Potential to Rally 35.62% as Wall Street Analysts Expect?
Analyzing Western Energy Services (OTCMKTS:WEEEF) & Helix Energy Solutions Group (NYSE:HLX)
Are TRBG, HLX, LPSN Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC is investigating Helix Energy Solutions Group regarding its proposed merger with Hornbeck Offshore Services for potential breaches of fiduciary duty. The investigation aims to determine if the terms of the transaction are fair to shareholders and if superior offers were limited. Under the current proposal, Helix shareholders would own approximately 45% of the combined company on a fully diluted basis.
Helix Energy Solutions Group, Inc. (HLX) Q1 2026 Earnings Call Transcript
Helix and Hornbeck to Combine to Create a Premier Integrated Offshore Services Company
Helix Energy Solutions Group (HLX) and Hornbeck Offshore Services (HOS) have agreed to combine in an all-stock transaction, forming a premier integrated offshore services company. Upon closing, Hornbeck shareholders will own approximately 55% of the combined company, while Helix shareholders will own about 45%, with the entity set to trade under the HOS ticker. The transaction is expected to generate $75 million or more in annual revenue and cost synergies within three years, driven by fleet optimization and integrated service offerings. The combined company will be headquartered in Houston and Covington, Louisiana, led by Hornbeck CEO Todd M. Hornbeck as President and Chief Executive Officer. Strategic benefits include a diversified fleet, expanded geographic presence in key offshore basins, and reduced cyclicality through exposure to defense and renewables markets.
Helix Energy (HLX) Reports Q1 Loss, Tops Revenue Estimates
Helix Reports First Quarter 2026 Results
Helix Energy Solutions Group (HLX) Projected to Post Quarterly Earnings on Wednesday
Helix Announces First Quarter 2026 Earnings Release Date and Conference Call Information
Helix Energy Solutions Group (NYSE:HLX) Stock Passes Above 200 Day Moving Average – Here’s What Happened
Helix Energy Solutions Group (NYSE:HLX) Shares Pass Above 200-Day Moving Average – Time to Sell?
