HOS offering raises $241.5 million

Written by Nick Blenkey

hosmicrologoHornbeck Offshore Services, Inc. (NYSE: HOS) reports that its has closed its underwritten public offeringof 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

November 16, 2011

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