Hornbeck Offshore Services, which provides marine transportation to the offshore oilfield and diversified non-oilfield markets, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Hornbeck provides marine transportation services to customers in the offshore oilfield and diversified non-oilfield markets across its core geographic regions covering the US and Latin America. The company has amassed what its believes is one of the largest, highest specification fleets of Offshore Supply Vessels (OSVs) and Multi-Purpose Support Vessels (MPSVs) in the industry. Hornbeck owns a fleet of 75 multi-class OSVs and MPSVs, approximately 75% of which are high-spec or ultra high-spec vessels.
Hornbeck was previously listed on the NYSE from 2004 until 2019, when it was delisted and commenced trading on the OTC. In June 2020, the company filed for Chapter 11 bankruptcy, from which it emerged the following September.
The Covington, LA-based company was founded in 1997 and booked $571 million in revenue for the 12 months ended September 30, 2023. It plans to list on the NYSE under the symbol HOS. J.P. Morgan, Barclays, DNB Markets, Piper Sandler, Guggenheim Securities, and Raymond James are the joint bookrunners on the deal. No pricing terms were disclosed.
