Hornbeck Ups Stock Offering For Massive U.S.-Flag Newbuild Program

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November 10, 2011

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it has increased the number of shares in its public offering of common stock by 250,000 to a total of 7,000,000 shares to fund the companies massive U.S.-flagged OSV building program.  Hornbeck also said it has priced its commons stock at $30.00 per share, which will raise $210,000,000.

Hornbeck says it intends to use the proceeds from the offering to partially fund its latest newbuild construction program announced earlier this week that calls for sixteen DP-2 new generation offshore supply vessels at a total cost $720 million. The company said the offering proceeds will also be used in connection with possible future acquisitions and additional new vessel construction, as well as for general corporate purposes.

This latest newbuild program will be the Hornbeck’s eighth vessel newbuild program since its inception in 1997, and its fifth newbuild program involving state-of-the-art, technologically advanced new generation OSVs.

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.

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