Helix Energy Solutions Enters Material Definitive Agreement

TL;DR

Helix Energy just signed a big deal, details to come.

AI Summary

On August 2, 2024, Helix Energy Solutions Group, Inc. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company, previously known as Cal Dive International Inc., is incorporated in Minnesota and headquartered in Houston, Texas.

Why It Matters

This filing indicates a significant new agreement for Helix Energy Solutions, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The filing reports a material definitive agreement, but the specific terms and financial implications are not yet disclosed, creating uncertainty.

Key Players & Entities

• HELIX ENERGY SOLUTIONS GROUP, INC. (company) — Registrant
• Cal Dive International Inc. (company) — Former company name
• August 2, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $20 million — edit basket under the ABL Facility from $20 million to $55 million. The foregoing descripti
• $55 million — er the ABL Facility from $20 million to $55 million. The foregoing description of the Fourt

Filing Documents

• hlx-20240802x8k.htm (8-K) — 38KB
• hlx-20240802xex4d1.htm (EX-4.1) — 123KB
• hlx-20240802x8k001.jpg (GRAPHIC) — 6KB
• 0000866829-24-000030.txt ( ) — 310KB
• hlx-20240802.xsd (EX-101.SCH) — 3KB
• hlx-20240802_lab.xml (EX-101.LAB) — 16KB
• hlx-20240802_pre.xml (EX-101.PRE) — 10KB
• hlx-20240802x8k_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On August 2, 2024, Helix Energy Solutions Group, Inc. ("Helix" or the "Company"), Helix Well Ops Inc., Helix Robotics Solutions, Inc., Deepwater Abandonment Alternatives, Inc., Alliance Offshore, L.L.C., Triton Diving Services, LLC, Alliance Energy Services, LLC, Helix Well Ops (U.K.) Limited and Helix Robotics Solutions Limited (collectively, the "Borrowers"), the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as agent and security trustee for the lenders (in such capacity, the "Agent"), entered into Amendment No. 4 to Loan, Security and Guaranty Agreement (the "Fourth Amendment") to the existing Loan, Security and Guaranty Agreement dated as of September 30, 2021 (as previously amended, the "ABL Facility") among the Borrowers, the guarantors party thereto, the lenders party thereto and the Agent. The Fourth Amendment amends certain provisions under the ABL Facility to, among other things, extend the maturity date of the ABL Facility from September 30, 2026 to August 2, 2029 subject to earlier senior debt maturities, and increase the letter of credit basket under the ABL Facility from $20 million to $55 million. The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amendment, a copy of which is filed as Exhibit 4.1 to this Current Report on Form 8-K and incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 4.1 Amendment No. 4, dated as of August 2, 2024, to Loan, Security and Guaranty Agreement dated as of September 30, 2021, among Helix Energy Solutions Group, Inc., Helix Well Ops Inc., Helix Robotics Solutions, Inc., Deepwater Abandonment Alternatives, Inc., Alliance Offshore, L.L.C., Triton Diving Services, LLC, Alliance Energy Services, LLC, Helix Well Ops (U.K.) Limited and Helix Robotics Solutions Limited as borrowers, the guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as agent and security trustee for the lenders, as previously amended. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 2, 2024 HELIX ENERGY SOLUTIONS GROUP, INC. By: /s/ Erik Staffeldt Erik Staffeldt Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR