Hornbeck Offshore Services executed a series of financing and capital-structure actions tied to the closing of its mergers. The company increased its first-lien revolving credit facility to $125 million and lifted uncommitted incremental capacity to $175 million, enhancing liquidity. It also amended its first- and second-lien facilities to permit the merger and adopted updated Jones Act warrant frameworks, including anti-dilution protections tied to dividends. Concurrently, Hornbeck terminated the legacy Helix $120 million ABL facility with no amounts outstanding, simplifying the post-merger capital structure.

Agreement 1: Hornbeck Offshore Increases Revolver to $125 Million; Upsizes Incremental Capacity to $175 Million

• Agreement type: First Incremental Facility Amendment to first-lien revolving credit facility
• Counterparty: DNB Bank, as administrative agent, and lenders
• Signed / Effective: Aug 28 2026 / Sep 01 2026
• Duration / Termination: Through existing facility term
• Reason: Enhance liquidity post-merger

Agreement 2: Hornbeck Offshore Amends First-Lien Credit Agreement to Permit Merger

• Agreement type: Second Amendment to first-lien revolving credit agreement
• Counterparty: DNB Bank, as administrative agent, Wilmington Trust, as collateral agent, and lenders
• Signed / Effective: Aug 28 2026 / Aug 28 2026
• Duration / Termination: Through existing facility term
• Reason: Allow consummation of the merger

Agreement 3: Hornbeck Offshore Amends Second-Lien Term Loan to Permit Merger

• Agreement type: First Amendment to second-lien term loan credit agreement
• Counterparty: Stonebriar Commercial Finance and lenders
• Signed / Effective: Aug 28 2026 / Aug 28 2026
• Duration / Termination: Through existing facility term
• Reason: Align facility terms with merger

Agreement 4: Hornbeck Offshore Adopts Amended Jones Act Warrant Agreement; Warrants Now 10.27167 Shares Each

• Agreement type: Amended and Restated Jones Act Warrant Agreement
• Counterparty: Equiniti Trust Company
• Signed / Effective: Sep 01 2026 / Sep 01 2026
• Duration / Termination: At will
• Reason: Ensure Jones Act compliance and unify warrant terms

Agreement 5: Hornbeck Offshore Establishes Amended Jones Act Anti-Dilution Warrant Framework

• Agreement type: Amended and Restated Jones Act Anti-Dilution Warrant Agreement
• Counterparty: Equiniti Trust Company
• Signed / Effective: Sep 01 2026 / Sep 01 2026
• Duration / Termination: At will
• Reason: Protect warrant value upon dividends

Agreement 6: Hornbeck Offshore Terminates Helix $120 Million ABL Facility With Bank of America at Closing

• Agreement terminated: Asset-based credit agreement (ABL facility)
• Counterparty: Bank of America
• Original agreement date: Sep 30 2021
• Termination date: Sep 01 2026
• Termination type: Early
• Exit fees / payments: None
• Reason: Streamline capital structure post-merger

Original SEC Filing: HORNBECK OFFSHORE SERVICES, INC. [ HLX ] - 8-K - Sep. 01, 2026