Hornbeck Offshore Ares holder reports 5.0M, 37.9M warrants
HORNBECK OFFSHORE SERVICES, INC.
Rhea-AI Filing Summary
HORNBECK OFFSHORE SERVICES, INC. (HLX) has a new Form 3 filed by several Ares-affiliated investment entities as ten percent owners, reporting only initial indirect holdings and no new trades.
The reporting entities indirectly hold warrants exercisable for 5,031,943 and 37,897,551 shares of Common Stock, with an exercise price of $0.00001 per share. The warrants are immediately exercisable, do not expire, and are subject to citizenship rules and limitations on exercise, sale, transfer or other disposition. Beneficial ownership of certain managed-account shares is expressly disclaimed.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
ASOF Investment Management LLC, ASOF II A (DE) Holdings I, L.P., ASOF II Holdings I, L.P., ASOF Holdings I, L.P., ASSF IV AIV B Holdings III, L.P., ASSF IV AIV B, L.P., ASSF Operating Manager IV, L.P.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrants F7, F6, F1, F2, F3 | -- | -- | -- |
| holding | Warrants F7, F6, F4, F5 | -- | -- | -- |
| holding | Common Stock F1, F2, F3 | -- | -- | -- |
| holding | Common Stock F4, F5 | -- | -- | -- |
Holdings After Transaction:
Warrants — 42,929,494 contracts (Indirect, See Footnotes);
Common Stock — 27,425,863 shares (Indirect, See Footnotes)
Footnotes (7)
- F1. Includes: (i) 10,107 shares of Common Stock and 134,887 warrants held by ASOF II A (DE) Holdings I, L.P., (ii) 56,103 shares of Common Stock and 748,260 warrants held by ASOF II Holdings I, L.P., (iii) 1,020,227 shares of Common Stock and 1,095,124 warrants held by ASOF Holdings I, L.P. (together with ASOF II A (DE) Holdings I, L.P. and ASOF II Holdings I, L.P., the "Ares SOF Holders"), (iv) 2,264,402 shares of Common Stock and 79,841 warrants held by ASSF IV AIV B Holdings III, L.P., (v) 72,506 shares of Common Stock and 2,208,429 warrants held by ASSF IV AIV B, L.P. (together with ASSF IV AIV B Holdings III, L.P., the "Ares SSF Holders") and (vi) 161,656 shares of Common Stock and 765,402 warrants held by two accounts managed or subadvised by Ares Management LLC with respect to which the Ares Entities (as defined below) may be deemed to have shared voting or dispositive power with the owners of such accounts (the "Ares Managed Accounts" and, such shares, the "Ares Managed Shares").
- F2. Ares Partners Holdco LLC ("Ares Partners") is the sole member of each of Ares Management GP LLC and Ares Voting LLC, which are respectively the holders of the Class B and Class C common stock of Ares Management Corporation ("Ares Management"), which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco LLC, which is the general partner of Ares Management Holdings L.P., which is the sole member of Ares Management LLC, which is (x) the general partner of ASSF Operating Manager IV, L.P., which is the manager of each of the Ares SSF Holders, (y) the sole member of ASOF Investment Management LLC, which is the manager of each of the Ares SOF Holders and (z) the investment manager or investment subadvisor of each of the Ares Managed Accounts.
- F3. We refer to all of the foregoing entities collectively as the Ares Entities. Each of the Ares Entities may be deemed to share beneficial ownership of the securities reported herein, but each disclaims any such beneficial ownership of securities not held of record by it. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions. Each of these individuals disclaims beneficial ownership of the securities that may be deemed to be beneficially owned by Ares Partners. The Ares Entities disclaim beneficial ownership of the Ares Managed Shares for purposes of Section 16 and this report shall not be deemed an admission that any of the Ares Entities are the beneficial owner of the Ares Managed Shares for purposes of Section 16 or for any other purpose.
- F4. Includes: (i) 4,749,024 shares of Common Stock held by ASOF HOS AIV 1, L.P., (ii) 1,871,251 shares of Common Stock and 16,507,261 warrants held by ASOF HOS AIV 2, L.P. (together with ASOF HOS AIV 1, L.P., the "Ares SOF HOS Holders"), (iii) 14,314,404 shares of Common Stock held by ASSF IV HOS AIV 1, L.P. and (iv) 2,906,183 shares of Common Stock and 21,390,290 warrants held by ASSF IV HOS AIV 2, L.P. (together with ASSF IV HOS AIV 1, L.P., the "Ares SSF HOS Holders").
- F5. ASOF HOS GP, LLC is managed by a board of managers, which is composed of Evan Hoole, Matthew Jill and Naseem Sagati Aghili. Each of these individuals disclaims beneficial ownership of the securities that may be deemed to be beneficially owned by ASOF HOS GP, LLC. ASOF HOS GP, LLC is the general partner of each of the Ares SSF HOS Holders and the Ares SOF HOS Holders. Accordingly, ASOF HOS GP, LLC may be deemed to share beneficial ownership of the securities held of record by the Ares SSF HOS Holders and the Ares SOF HOS Holders, but disclaims such beneficial ownership.
- F6. The warrants are immediately exercisable but are subject to certain citizenship rules and limitations on exercise, sale, transfer or other disposition. The warrants do not expire.
- F7. The exercise price of the warrants is $0.00001.
Key Figures
Underlying shares for first warrant position: 5,031,943 shares of Common Stock
Underlying shares for second warrant position: 37,897,551 shares of Common Stock
Warrant exercise price: $0.00001 per share
+2 more
5 metrics
Underlying shares for first warrant position
5,031,943 shares of Common Stock
Underlying shares for indirectly held warrants reported as of September 1, 2026
Underlying shares for second warrant position
37,897,551 shares of Common Stock
Underlying shares for a separate indirectly held warrant position as of September 1, 2026
Warrant exercise price
$0.00001 per share
Exercise price of the reported warrants
Example Ares SOF holder common shares
1,020,227 shares of Common Stock
Shares held by ASOF Holdings I, L.P. as part of the Ares SOF Holders group
Example Ares SSF HOS holder warrants
21,390,290 warrants
Warrants held by ASSF IV HOS AIV 2, L.P. within the Ares SSF HOS Holders
Key Terms
warrants, beneficial ownership, citizenship rules, Section 16, +1 more
5 terms
warrants financial
"The warrants are immediately exercisable but are subject to certain citizenship rules"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
beneficial ownership financial
"Each of the Ares Entities may be deemed to share beneficial ownership of the securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
citizenship rules regulatory
"The warrants are immediately exercisable but are subject to certain citizenship rules"
Section 16 regulatory
"The Ares Entities disclaim beneficial ownership of the Ares Managed Shares for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
ten percent owner regulatory
"Each reporting person is indicated as a ten percent owner of the issuer"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 for HLX disclose about Ares-affiliated holdings?
It discloses that several Ares-affiliated entities are ten percent owners and report only initial indirect holdings in Hornbeck Offshore Services, Inc. common stock and warrants, with no purchase or sale transactions reported.
What is the exercise price of the HLX warrants held by the Ares entities?
The exercise price of the reported warrants is $0.00001 per share. According to the disclosure, these warrants are immediately exercisable but subject to citizenship rules and other limitations, and they do not expire.
Are the reported HLX warrants subject to any restrictions?
Yes. The warrants are immediately exercisable but are subject to citizenship rules and limitations on exercise, sale, transfer or other disposition, as specified in the footnotes. These warrants also do not expire.
Do the Ares entities claim full beneficial ownership of all reported HLX securities?
No. The Ares entities state they may be deemed to share beneficial ownership of the reported securities but disclaim beneficial ownership of securities not held of record and specifically disclaim beneficial ownership of the managed-account shares for Section 16 purposes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
