The Helix Energy Solutions Group (HESG) and Hornbeck Offshore Services (HOS) have completed their previously announced merger in an all-stock transaction, establishing a new integrated offshore services company.
The combined company has assumed the Hornbeck Offshore Services name and began trading on the New York Stock Exchange on Wednesday, September 2.
Helix's common stock ceased trading on the New York Stock Exchange at the close of trading on Tuesday, September 1.
As previously announced, Todd M. Hornbeck has assumed the role of President, Chief Executive Officer and Director of the combined company, and William L. Transier has assumed the role of Chairman of the combined company's board of directors.
HOS shareholders now own approximately 55 per cent and HESG shareholders own approximately 45 per cent of the combined company on a fully diluted basis.
"The closing of this transaction represents the successful culmination of a shared vision to create a market-leading offshore services company with unique capabilities and strategic flexibility," said Transier.
HOS and HESG had earlier said in a joint press release that the merger will create "a recognised leader in offshore operations through a diversified and expanded high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities, including trenching subsea pipelines and cables."
