secwatch.observer — SEC 8-K summary
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Issuer:     HELIX ENERGY SOLUTIONS GROUP INC (HLX)
CIK:        0000866829
Form:       8-K
Filed at:   2026-09-03T10:15:10+00:00
Accession:  0001193125-26-380897
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hornbeck completes Helix merger, creating integrated offshore services leader
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- Merger with Helix completed Sept 1, 2026; combined company operates 85 vessels incl. 57 OSVs and 15 MPSVs.
- Pro forma backlog $2.0B; LTM Adj. EBITDA $551M; market cap ~$3.4B based on ~327M shares and Helix close of $10.30.
- Fleet includes 22 ultra high-spec OSVs, 7 well intervention vessels, 41 work-class ROVs, and 6 subsea trenching systems.
- Two newbuild MPSVs expected in 2027 and 2028; net debt/LTM Adj. EBITDA 0.4x as of 2Q2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866829/000119312526380897/0001193125-26-380897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866829/000119312526380897/d138666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-380897

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer