Ares-backed company seeks public offering
- Hornbeck Offshore Services files for IPO
- Ares Management owns 42% of the company
- Proceeds from the sale will be used for general corporate purposes
- Hornbeck plans to list shares on NYSE under ticker HOS
- Company reported a profit of $80.8 million in 2022
Hornbeck Offshore Services, a marine transportation company based in Covington, Louisiana, has filed for an initial public offering (IPO) with the Securities and Exchange Commission. The company, which provides services to offshore oilfield and non-oilfield markets, including military support services and renewable energy, is backed by Ares Management. Ares and its affiliates currently own 42% of the company. The number of shares to be offered and the anticipated price range have not been disclosed. The proceeds from the IPO will be used for general corporate purposes. In 2022, Hornbeck Offshore Services reported a profit of $80.8 million on revenue of $317.6 million. The company plans to list its shares on the New York Stock Exchange under the ticker symbol HOS.
Factuality Level: 8
Factuality Justification: The article provides factual information about Hornbeck Offshore Services filing for an initial public offering with the Securities and Exchange Commission. It mentions the company’s services, ownership, and financial details. However, it lacks some specific details such as the number of shares to be offered and the anticipated price range.
Noise Level: 7
Noise Justification: The article provides basic information about Hornbeck Offshore Services filing for an IPO, including its services, ownership, and financials. However, it lacks in-depth analysis, evidence, or actionable insights. It stays on topic but doesn’t explore long-term trends or antifragility. Overall, it contains relevant information but lacks depth and critical analysis.
Financial Relevance: Yes
Financial Markets Impacted: The filing for an initial public offering by Hornbeck Offshore Services may impact the financial markets, particularly the stock market and the oil and gas industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to a financial topic as it discusses Hornbeck Offshore Services filing for an initial public offering. However, there is no mention of an extreme event or its impact.
Public Companies: Hornbeck Offshore Services (HOS)
Private Companies: Ares Management
Key People: Ben Glickman (Author)
Reported publicly:
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