Hornbeck Offshore 10% holder has $0.00001 share warrants
Ares-affiliated ASOF HOS entities report significant indirect Hornbeck Offshore common and warrant holdings with nominal-cost, non-expiring warrants.
Rhea-AI Filing Summary
HORNBECK OFFSHORE SERVICES, INC. (HLX) has a new Form 3 from ASOF HOS GP, LLC and affiliated funds, reporting their status as ten percent owners through indirect holdings of common stock and warrants. The warrants are immediately exercisable into common stock at an exercise price of $0.00001, do not expire, and are subject to citizenship and transfer limitations. Complex Ares-affiliated structures hold these positions, with multiple entities disclaiming beneficial ownership of certain managed accounts.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
ASOF HOS GP, LLC, ASOF HOS AIV 1, L.P., ASOF HOS AIV 2, L.P., ASSF IV HOS AIV 1, L.P., ASSF IV HOS AIV 2, L.P.
Role
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 (Warrants position 1): 5,031,943 shares
Underlying shares (Warrants position 2): 37,897,551 shares
Warrant exercise price: $0.00001 per share
+5 more
8 metrics
Underlying shares (Warrants position 1)
5,031,943 shares
Common stock underlying one set of reported warrants, indirect ownership
Underlying shares (Warrants position 2)
37,897,551 shares
Common stock underlying second set of reported warrants, indirect ownership
Warrant exercise price
$0.00001 per share
Exercise price for the reported Hornbeck Offshore warrants
Common Stock held by ASOF II A (DE) Holdings I, L.P.
10,107 shares
Part of Ares SOF Holders’ Hornbeck Offshore common stock position
Warrants held by ASOF II A (DE) Holdings I, L.P.
134,887 warrants
Hornbeck Offshore-related warrants held by ASOF II A (DE) Holdings I, L.P.
Common Stock held by ASOF HOS AIV 2, L.P.
1,871,251 shares
Part of Ares SOF HOS Holders’ Hornbeck Offshore common stock holdings
Warrants held by ASOF HOS AIV 2, L.P.
16,507,261 warrants
Hornbeck Offshore-related warrants held by ASOF HOS AIV 2, L.P.
Warrants held by ASSF IV HOS AIV 2, L.P.
21,390,290 warrants
Hornbeck Offshore-related warrants held by ASSF IV HOS AIV 2, L.P.
Key Terms
beneficial ownership, warrants, exercise price, citizenship rules, +1 more
5 terms
beneficial ownership financial
"may be deemed to share beneficial ownership of the securities reported"
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.
warrants financial
"The warrants are immediately exercisable but are subject to certain"
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.
exercise price financial
"The exercise price of the warrants is $0.00001."
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
citizenship rules regulatory
"subject to certain citizenship rules and limitations on exercise"
ten percent owner regulatory
"reporting their status as ten percent owners through indirect holdings"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 for HLX disclose about ASOF HOS GP, LLC?
The Form 3 reports ASOF HOS GP, LLC and related limited partnerships as ten percent owners of Hornbeck Offshore Services, Inc., holding indirect positions in both common stock and warrants through various Ares-affiliated investment entities.
What warrant positions tied to HLX common stock are reported?
Two indirect warrant positions are reported, each exercisable into HLX common stock, covering 5,031,943 underlying shares and 37,897,551 underlying shares, respectively. These figures come from the derivative holdings described in the Form 3 and its footnotes.
Do the HLX warrants reported on the Form 3 expire?
No. The filing states that the warrants do not expire. They are immediately exercisable but are subject to certain citizenship rules and limitations on exercise, sale, transfer, or other disposition, which may restrict how and when they can be used.
Which HLX securities are held by the Ares SOF Holders and SSF Holders?
The Ares SOF Holders and SSF Holders collectively hold specified blocks such as 10,107, 56,103, and 1,020,227 shares of common stock and associated warrants, plus additional common and warrants in other Ares-affiliated vehicles, all detailed in the Form 3 footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
