On February 14, 2020, Hornbeck Offshore Services, Inc. entered into a support agreement with certain holders of the Company’s outstanding 5.875% Senior Notes due 2020 and 5.000% Senior Notes due 2021. In connection with the entry into the Transaction Support Agreement, the company commenced offers to exchange up to all of the Existing Notes for a combination of its newly issued 10.000% Senior Notes due 2023 and 5.500% Senior Notes due 2025 a private offer to purchase for cash up to $66.7 million in aggregate principal amount of Existing Notes upon the terms and conditions set forth in a confidential offer to exchange and consent solicitation statement dated February 14, 2020, as well as a solicitation of consents to proposed amendments with respect to the indentures governing the Existing Notes and certain releases. Pursuant to the Transaction Support Agreement, the Supporting Holders have agreed to, among other things: (i) validly tender in the Offers, approximately 80% of the $224.3 million aggregate principal amount of outstanding 2020 Notes and 89% of the $450.0 million aggregate principal amount of outstanding 2021 Senior Notes; (ii) deliver the Consents and associated releases with respect to such Existing Notes; (iii) not to withdraw or revoke any Existing Notes tendered and any Consents and releases delivered in the Offers and Consent Solicitations; and (iv) cooperate with and support the Company’s efforts to consummate the Offers and Consent Solicitations. The company’s and the Supporting Holders’ obligations under the Transaction Support Agreement are subject to various customary conditions set forth in the Transaction Support Agreement.