Hornbeck Offshore closes public offeringCompany News // November 18, 2011
Hornbeck Offshore Services has closed its underwritten public offering of 8,050,000 shares of its common stock at a price to the public of US$30.00 per share, for total gross proceeds of approximately US$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 programme.
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.