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Helix Energy (NYSE: HLX) clears Hornbeck tie-up—who holds the majority stake?

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

HELIX ENERGY SOLUTIONS GROUP, INC. (HLX) reported that its shareholders approved all proposals necessary to complete an all-stock combination with Hornbeck Offshore Services, Inc. at a special meeting held on August 31, 2026. At the record date of July 27, 2026, 147,382,447 shares of Helix common stock were issued and outstanding. Multiple proposals received strong support, with several items drawing over 126 million votes in favor versus under 1.2 million votes against, while one proposal saw 57,242,463 votes for and 69,985,545 against.

The transaction is structured as an all-stock combination, after which Hornbeck securityholders are expected to own approximately 55% and Helix shareholders approximately 45% of the combined company on a fully diluted basis. The combined company will be named “Hornbeck Offshore Services, Inc.” and is expected to trade on the New York Stock Exchange under the ticker “HOS.” Closing is expected on September 1, 2026, subject to remaining conditions. Helix and Hornbeck describe the combined business as an integrated offshore services company with expanded scale and capabilities across deepwater energy, defense and renewables markets.

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Item 5.07 Submission of Matters to a Vote of Security Holders Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Shares outstanding at record date 147,382,447 shares Helix common stock issued and outstanding as of July 27, 2026, the record date for the special meeting
Ownership of combined company – Hornbeck securityholders 55% Expected fully diluted ownership of the combined company upon completion of the transaction
Ownership of combined company – Helix shareholders 45% Expected fully diluted ownership of the combined company upon completion of the transaction
Key proposal votes – high-support example 126,692,154 For; 644,096 Against; 172,957 Abstentions One of the merger-related proposals voted on at the Helix special meeting
Proposal with more votes against 57,242,463 For; 69,985,545 Against; 281,199 Abstentions One of the proposals considered at the Helix special meeting
Expected closing date September 1, 2026 Target closing date for the Helix–Hornbeck all-stock combination
all-stock combination financial
"the previously announced all-stock combination of Helix and Hornbeck"
An all-stock combination is a deal where one company buys or merges with another using only its own shares as payment instead of cash. For investors it matters because their ownership stake and the total number of shares can change—like swapping part of a pie for extra slices—affecting each share’s claim on future profits and creating incentives for both companies to grow the combined business rather than immediately extract cash value.
proxy statement/prospectus regulatory
"includes a document that serves as a proxy statement and prospectus of Helix"
A proxy statement or prospectus is a document that companies send to shareholders to provide important information about upcoming decisions or investments, such as voting on company issues or offering new shares to the public. It helps investors understand the details and risks involved, enabling them to make informed choices about their ownership or involvement with the company.
registration statement on Form S-4 regulatory
"Helix has filed with the SEC a registration statement on Form S-4"
A registration statement on Form S-4 is a formal filing with the U.S. Securities and Exchange Commission used when a company issues shares or other securities as part of a merger, acquisition, exchange offer or similar corporate deal. It bundles the transaction terms, financial statements, risk factors and shareholder vote materials so investors can assess the deal; think of it as a detailed prospectus or buyer’s packet that explains what you would own and how the deal could change your stake.
forward-looking statements regulatory
"This press release contains forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
termination fee financial
"circumstances requiring Helix or Hornbeck to pay a termination fee and expense reimbursement"
A termination fee is a payment required if one party ends a contract before its agreed-upon end date. It acts like a penalty or compensation to the other party for canceling early, similar to a fee you might pay for breaking a lease or canceling a service contract. For investors, it matters because it can influence a company's decisions and financial obligations related to ending agreements prematurely.

FAQ

What did HLX shareholders approve at the August 31, 2026 special meeting?

HLX shareholders approved the proposals necessary to complete the previously announced all-stock combination with Hornbeck Offshore Services at a special meeting held on August 31, 2026. Multiple proposals received strong majority support based on the reported vote tallies.

How will ownership of the combined Helix (HLX) and Hornbeck company be split?

Upon completion of the transaction, Hornbeck securityholders will own approximately 55% and Helix shareholders will own approximately 45% of the combined company on a fully diluted basis, according to the joint announcement by Helix and Hornbeck.

When is the Helix (HLX) and Hornbeck merger expected to close?

Helix and Hornbeck state that they expect the transaction to close on September 1, 2026, following shareholder approval and subject to satisfaction of remaining closing conditions described in their merger documentation.

What will be the new name and ticker after the Helix (HLX) and Hornbeck combination?

After closing, the combined company will operate under the name “Hornbeck Offshore Services, Inc.” and is expected to trade on the New York Stock Exchange under the ticker symbol “HOS.” Helix’s current ticker is HLX.

How many Helix (HLX) shares were eligible to vote at the special meeting?

As of the record date of July 27, 2026, 147,382,447 shares of Helix common stock were issued and outstanding and therefore eligible to vote on the merger-related proposals at the special meeting.

Where can HLX investors find more information on the Helix–Hornbeck transaction?

More information is available in Helix’s registration statement on Form S-4 and the related proxy statement/prospectus, declared effective on July 31, 2026, accessible via the SEC’s website (www.sec.gov) and the Helix website under the “Investors” tab.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): August 31, 2026

graphic

HELIX ENERGY SOLUTIONS GROUP, INC.
(Exact name of registrant as specified in its charter)

Minnesota
001-32936
95-3409686
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

3505 West Sam Houston Parkway North


Suite 400


Houston, Texas

77043
(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: 281-618-0400
 
NOT APPLICABLE
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, no par value
HLX
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 5.07
Submission of Matters to a Vote of Security Holders.

On August 31, 2026, Helix Energy Solutions Group, Inc. (the “Company” or “Helix”) held a special meeting of shareholders (the “Special Meeting”) in connection with the proposed merger with Hornbeck Offshore Services, Inc., a Delaware corporation (“Hornbeck”), as disclosed in the Company’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on July 31, 2026. At the close of business on July 27, 2026, the record date for the Special Meeting, 147,382,447 shares of Helix common stock were issued and outstanding. The final voting results are disclosed below.

1.
Issuance of Common Stock. Shareholders approved the issuance of shares of common stock, par value $0.00001 per share, of Helix following the Conversion (as defined below) (“Helix Delaware”) for purposes of complying with Section 312.03(c) of the New York Stock Exchange’s (“NYSE”) Listed Company Manual and, in the event such issuance constitutes a change of control, Section 312.03(d) of the NYSE’s Listed Company Manual.

Votes For
 
Votes Against
 
Abstentions
 
126,692,154
 
644,096
 
172,957
 

2.
Increase in Authorized Stock. Shareholders approved an increase in the authorized amount of (i) common stock, par value $0.00001 per share, of Helix Delaware and (ii) preferred stock, par value $0.00001 per share, of Helix Delaware, as set forth in Article V of the Charter (as defined below).

Votes For
 
Votes Against
 
Abstentions
 
118,826,885
 
8,652,248
 
30,074
 

3.
Approval of the Second Merger. Shareholders approved the merger of Hornbeck, as the surviving corporation in the First Merger (as defined below), with and into Hercules Sub LLC, a Delaware limited liability company (the “Second Merger”).

Votes For
 
Votes Against
 
Abstentions
 
117,854,088
 
9,468,404
 
186,715
 

4.
Plan of Conversion. Shareholders approved the plan of conversion, pursuant to which, immediately prior to the merger of Odyssey Sub, Inc., a Delaware corporation and direct wholly owned subsidiary of Helix, with and into Hornbeck, with Hornbeck continuing as the surviving entity (the “First Merger” and, together with the Second Merger, the “Mergers”), Helix will convert from a Minnesota corporation to a Delaware corporation (the “Conversion” and Helix Delaware, following the Mergers, the “Combined Company”) in accordance with Section 265 of General Corporation Law of the State of Delaware, as amended, and Section 302A.682 of the Minnesota Business Corporation Act, as amended.

Votes For
 
Votes Against
 
Abstentions
 
126,208,465
 
1,111,078
 
189,664
 

5.
Compliance with Jones Act. Shareholders approved the provisions in Article XV of the form of certificate of incorporation of the Combined Company attached as Annex D to Helix’s registration statement on Form S-4, as amended (File No. 333-296508), (the “Charter”) regarding compliance with the United States citizenship and cabotage laws commonly referred to as the “Jones Act”, which are principally contained in 46 U.S.C. §§ 50501 (a), (b) and (d) and 46 U.S.C. Chapters 121 and 551.

Votes For
 
Votes Against
 
Abstentions
 
126,978,952
 
443,103
 
87,152
 

6.
Director and Officer Citizenship Requirement. Shareholders approved the director and officer citizenship requirement provisions, as set forth in Section 6.7 of the Charter.

Votes For
 
Votes Against
 
Abstentions
 
126,985,653
 
477,069
 
46,485
 


7.
Exclusive Forum. Shareholders approved the submission to jurisdiction provisions, as set forth in Article XIV of the Charter.

Votes For
 
Votes Against
 
Abstentions
 
108,168,163
 
19,301,372
 
39,672
 

8.
Officer Exculpation. Shareholders approved the provisions limiting liability of officers, as set forth in Article VII of the Charter.

Votes For
 
Votes Against
 
Abstentions
 
114,732,346
 
12,734,229
 
42,632
 

9.
Supermajority Approval Requirement. Shareholders approved the removal of the supermajority approval requirements, as set forth in Article XI of the Charter. Such approval required the affirmative vote of the holders of shares of Helix common stock representing 80% of the outstanding shares of Helix common stock entitled to vote on such proposal.

Votes For
 
Votes Against
 
Abstentions
 
126,744,287
 
720,658
 
44,262
 

10.
Corporate Opportunities Provision. Shareholders rejected the corporate opportunities provisions, as set forth in Article IX of the Charter.

Votes For
 
Votes Against
 
Abstentions
 
57,242,463
 
69,985,545
 
281,199
 

11.
Non-Binding Named Executive Officer Compensation. Shareholders approved, on a non-binding advisory basis, the compensation that may be paid or become payable to the Company’s named executive officers that is based on or otherwise relates to the Mergers.

Votes For
 
Votes Against
 
Abstentions
 
114,232,888
 
12,947,303
 
329,016
 

12.
Adjournment. Because the Company’s shareholders approved proposals (1) through (6), the adjournment proposal was not submitted to the shareholders.


Item 7.01
Regulation FD Disclosure.

On August 31, 2026, Helix and Hornbeck issued a joint press release announcing the results at the Special Meeting, a copy of which is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The information contained in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be set forth by specific reference in such filing.

Item 9.01
Financial Statements and Exhibits.
 
(d) Exhibits.

Exhibit Number
 
Description
99.1
 
Press release, dated August 31, 2026
     
104
 
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 31, 2026


HELIX ENERGY SOLUTIONS GROUP, INC.

 

By:
/s/ Erik Staffeldt

 
Erik Staffeldt

 
Executive Vice President and
Chief Financial Officer




Exhibit 99.1


PRESS RELEASE

www.helixesg.com

Helix Energy Solutions Group, Inc.   3505 W. Sam Houston Parkway N., Suite 400    Houston, TX  77043  281-618-0400    fax: 281-618-0505

For Immediate Release
26-010

 
Date: August 31, 2026 Contact:
Erik Staffeldt


Executive Vice President & CFO


Helix Shareholders Approve Combination
 with Hornbeck Offshore Services

Transaction Expected to Close on September 1st, 2026

HOUSTON & COVINGTON, La. – August 31, 2026 – Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) and Hornbeck Offshore Services, Inc. (“Hornbeck”) announced that Helix’s shareholders have approved the proposals necessary to complete the previously announced all-stock combination of Helix and Hornbeck at a special meeting of Helix’s shareholders held today.

“We thank our shareholders for their support of our transaction with Hornbeck,” said Owen Kratz, President and Chief Executive Officer of Helix. “We believe this combination establishes an integrated offshore services company with enhanced scale, expanded capabilities and opportunities for growth across the deepwater energy, defense and renewables industries.”

“Today’s approval marks an important milestone in bringing together two industry leaders,” said Todd M. Hornbeck, Chairman, President and Chief Executive Officer of Hornbeck. “We appreciate the support of Helix’s shareholders and look forward to creating a global offshore services leader, one with the innovative, high-quality and value-added business solutions, global reach, advanced technology and financial strength necessary to better serve our customers and drive long-term shareholder value.”

Upon completion of the transaction, Hornbeck securityholders will own approximately 55% and Helix shareholders will own approximately 45% of the combined company on a fully diluted basis. The combined company will operate under the name “Hornbeck Offshore Services, Inc.” and trade on the New York Stock Exchange under the ticker symbol “HOS.”

The companies expect the transaction to close on September 1st, 2026.

The final voting results, as certified by an independent inspector of election, will be filed on a Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”).

Advisors

Goldman Sachs & Co. LLC is serving as financial advisor to Helix, and Veriten LLC is serving as an independent strategic advisor. Baker Botts L.L.P. is serving as legal counsel to Helix. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.


Barclays, Piper Sandler & Co. and J.P. Morgan are acting as financial advisors to Hornbeck, and Kirkland & Ellis LLP is serving as its legal counsel.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Helix’s services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments.

About Hornbeck

Hornbeck Offshore Services, Inc., headquartered in Covington, Louisiana, is a leading provider of technologically advanced, high specification offshore service vessels to the energy industry primarily in the Gulf of America and Latin America, as well as to the U.S. government, offshore wind and other non-oilfield customers.

Important Information About the Proposed Transaction and Where to Find It

In connection with the proposed transaction, Helix has filed with the SEC a registration statement on Form S-4 to register the common stock of Helix to be issued in connection with the proposed transaction. The registration statement includes a document that serves as a proxy statement and prospectus of Helix (the “proxy statement/prospectus”), and Helix will file other documents regarding the proposed transaction with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus, or any other document that Helix has filed or may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN OR MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT HELIX AND HORNBECK, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO, AND RELATED MATTERS.

The registration statement was declared effective on July 31, 2026 and Helix commenced mailing of the definitive proxy statement/prospectus to Helix shareholders on or about July 31, 2026. Investors and securityholders are able to obtain free copies of the registration statement and the proxy statement/prospectus, as each may be amended or supplemented from time to time, and other relevant documents filed by Helix with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Helix, including the proxy statement/prospectus, will be available free of charge from Helix’s website at helixesg.com under the “Investors” tab.

No Offer or Solicitation

This press release is for informational purposes only and is not intended to, and shall not, constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of present or historical fact included in this press release are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding: Helix’s and Hornbeck’s expectations, hopes, beliefs, intentions or strategies regarding the completion of the proposed transaction; timeline and ability to realize anticipated benefits of the proposed transaction (including expected synergies and balance sheet balances); and governance of the combined company. These forward-looking statements are based largely on Helix’s and Hornbeck’s current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause Helix’s or Hornbeck’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to potential litigation relating to the proposed transaction, including the effects of any outcomes related thereto; the risk that disruptions from the proposed transaction (including the ability of certain customers to terminate or amend contracts upon a change of control) will harm Helix’s or Hornbeck’s business, including current plans and operations, including during the pendency of the proposed transaction; the ability of Helix or Hornbeck to retain and hire key personnel, to retain customers or maintain relationships with their respective suppliers and customers; the diversion of management’s time and attention from ordinary course of business operations to completion of the proposed transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; legislative, regulatory and economic developments; potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Helix’s or Hornbeck’s financial performance as well as unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, losses, synergies, economic performance, indebtedness, financial condition, future prospects, business and management strategies, expansion and growth of Helix’s or Hornbeck’s businesses; the inability of Helix and Hornbeck to achieve expected synergies from the transaction or that it may take longer or be more costly than expected to achieve those synergies; an inability to de-leverage on the expected timeline, or at all; the imposition of any terms and conditions on any required governmental and regulatory approvals that could reduce the anticipated benefits to Helix and Hornbeck of the proposed transaction; the inability to successfully integrate Hornbeck’s operations with those of Helix without unexpected cost or delay; certain restrictions during the pendency of the proposed transaction that may impact Helix’s or Hornbeck’s ability to pursue certain business opportunities or strategic transactions; the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction, including in circumstances requiring Helix or Hornbeck to pay a termination fee and expense reimbursement; the risk that Helix’s share price may decline significantly if the proposed transaction is not consummated; there may be liabilities that are not known, probable or estimable at this time, or unexpected costs, charges or expenses; actions by governments, regulatory authorities, customers, suppliers and partners; market conditions; results from acquired properties; demand for services; the performance of contracts by suppliers, customers and partners; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in Helix’s filings with the SEC. In addition, Helix and Hornbeck caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the proposed transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that have been or may be instituted against Helix or Hornbeck following announcement of the proposed transaction; (iii) the inability to complete the proposed transaction due to the failure to satisfy any conditions to closing in the merger agreement; (iv) the risk that the proposed transaction disrupts Helix’s or Hornbeck’s current plans and operations as a result of the announcement of the proposed transaction; (v) Helix’s and Hornbeck’s ability to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition and the ability of Helix and Hornbeck to grow and manage growth profitably following the proposed transaction; and (vi) costs related to the proposed transaction. The forward-looking statements in this press release are based upon information available to Helix and Hornbeck as of the date of this press release and, while Helix and Hornbeck believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, Helix and Hornbeck do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Helix’s periodic filings with the SEC, including Helix’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, Helix’s subsequent Quarterly Reports on Form 10-Q and in Helix’s Definitive Proxy Statement/Prospectus filed with the SEC on July 31, 2026. Helix’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
 


Filing Exhibits & Attachments

4 documents