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Hornbeck Offshore Services, Inc. : Hornbeck Offshore Announces Closing of Public Equity Offering, Including Exercise in Full of Over-Allotment Option

11/16/2011 | 09:50am US/Eastern
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COVINGTON, La., Nov. 16, 2011 /PRNewswire/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) (the "Company") announced today that the Company has closed its underwritten public offering (the "Offering") of 8,050,000 shares of its common stock at a price to the public of $30.00 per share, for total gross proceeds of approximately $241,500,000 before underwriting discounts, commissions and offering expenses. This includes 1,050,000 additional shares of common stock purchased pursuant to the exercise in full of the underwriters' over-allotment option.

The Company intends to use net proceeds from the Offering to partially fund its newbuild construction program of new offshore supply vessels. In addition, Offering proceeds may be used in connection with possible future acquisitions and additional new vessel construction, as well as for general corporate purposes.

Barclays Capital, J.P. Morgan and Wells Fargo Securities acted as joint book-running managers for the Offering. Global Hunter Securities, LLC, Johnson Rice & Company L.L.C., Pritchard Capital Partners, LLC, Simmons & Company International, Capital One Southcoast, Clarkson Capital Markets, Howard Weil Incorporated and IBERIA Capital Partners L.L.C. acted as co-managers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

A copy of the prospectus supplement and accompanying base prospectus meeting such requirements relating to the offering may be obtained from the offices of:

Barclays Capital
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-free: 888-603-5847
Email: Barclaysprospectus@broadridge.com

J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: 866-803-9204

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Phone: 800-326-5897

You may also obtain these documents for free when they are available from the Securities and Exchange Commission (the "SEC") at www.sec.gov.

Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore supply vessels primarily in the U.S. Gulf of Mexico and Latin America, and is a leading short-haul transporter of petroleum products through its coastwise fleet of ocean-going tugs and tank barges primarily in the northeastern U.S. and the U.S. Gulf of Mexico. Hornbeck Offshore currently owns a fleet of 80 vessels primarily serving the energy industry.

Forward-Looking Statements

This news release contains forward-looking statements, including, in particular, statements about Hornbeck Offshore's plans and intentions with respect to the use of the proceeds of the offering. These have been based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.


    Contacts:    Todd Hornbeck, CEO
                 Jim Harp, CFO
                  Hornbeck Offshore Services
                  985-727-6802

                 Ken Dennard, Managing Partner
                 DRG&L  /  713-529-6600

SOURCE Hornbeck Offshore Services, Inc.

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