Helix Announces Its 4.125% Convertible Senior Notes Due 2023 Have Become Convertible

Rhea-AI Summary

Helix Energy Solutions Group (NYSE: HLX) announced that its 4.125% Convertible Senior Notes due 2023 are now convertible by holders as of March 15, 2023, and will remain convertible until September 14, 2023. The press release details the conversion process, which involves providing necessary instructions to the Depository Trust Company or completing manual steps for certificated Notes. Upon conversion, holders can receive shares of common stock, cash, or a combination thereof, at Helix's discretion. The company specializes in offshore energy services, focusing on well intervention and decommissioning operations.

Positive

• Convertible Senior Notes are now available for holders, increasing liquidity options.
• Conversion process clearly outlined, facilitating holder engagement.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today that its 4.125% Convertible Senior Notes due 2023 (the “Notes”) are now convertible at the option of the holders, as provided in the indenture governing the Notes (the “Indenture”).

This press release is made pursuant to a provision in the Indenture that requires publication of this notice of convertibility. As of March 15, 2023 the Notes are convertible and will remain convertible through September 14, 2023, the business day immediately preceding the maturity date of the Notes.

To convert interests in a global Note held through the Depository Trust Company (“DTC”), the holder must deliver to DTC the appropriate instruction form for conversion pursuant to DTC’s conversion program and pay the amount of interest and tax or duty, if required. To convert certificated Notes, a holder must (a) complete and manually sign the conversion notice, as set forth in the Note, with appropriate signature, guarantee, or facsimile of the conversion notice and deliver the completed conversion notice to The Bank of New York Mellon Trust Company, N.A., the trustee, as conversion agent (the “Conversion Agent”), (b) surrender the Note to the Conversion Agent, (c) furnish appropriate endorsements and transfer documents, if required by the Registrar or Conversion Agent, (d) pay the amount of interest, if required and (e) pay any tax or duty, if required.

Upon surrendering Notes for conversion in accordance with the Indenture, the holder of the Notes will receive through the Conversion Agent, either shares of common stock, cash or a combination of cash and shares of common stock, at Helix’s election.

Holders of the Notes may obtain further information on how to convert their Notes by contacting the Conversion Agent at: The Bank of New York Mellon, 2001 Bryan Street, 10th Floor, Dallas, Tx 75201, Attention Corporate Trust Reorg. Or email inquiries to: CT_Reorg_Unit_Inquiries@bnymellon.com.

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 full-field decommissioning operations. Our services are centered on a three-legged business model well positioned to facilitate global energy transition by maximizing production of remaining oil and gas reserves, supporting renewable energy developments and decommissioning end-of-life oil and gas fields. For more information about Helix, please visit our website at www.helixesg.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding settlement of the Notes, conversion consideration and any impact on our financial and operating results and estimates. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to market conditions and other risks described from time to time in our reports filed with the Securities and Exchange Commission (“SEC”), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005875/en/

Erik Staffeldt, CFO

Ph: 281-618-0465

email: estaffeldt@helixesg.com

Source: Helix Energy Solutions Group, Inc.

FAQ

What is the status of Helix Energy Solutions' Convertible Senior Notes as of March 2023?

As of March 15, 2023, Helix's 4.125% Convertible Senior Notes are now convertible by holders until September 14, 2023.

How can holders convert Helix's Convertible Senior Notes?

Holders can convert the Notes by following specific procedures outlined in the press release, including contacting the Conversion Agent.

What will holders receive upon converting Helix's Convertible Senior Notes?

Upon conversion, holders may receive either shares of common stock, cash, or a combination of both, at Helix's election.

What is the maturity date of Helix's Convertible Senior Notes?

The maturity date for Helix's 4.125% Convertible Senior Notes is September 15, 2023.