Terms of Use

Please read these Terms of Use carefully before you access our website (www.hbk.com) and any materials presented on it (collectively the "Website"). By visiting the Website, you are acknowledging and agreeing to be bound by these Terms of Use. You must review these Terms of Use carefully, because if you do not agree to all of these Terms of Use you may not visit the Website.

HBK Investments L.P. and its affiliates (collectively, "HBK", "we", "us", or "our") reserve the right to limit or deny access to the Website to any person, geographic region or jurisdiction at any time without prior notice in our sole discretion. In addition, we reserve the right, in our sole discretion, to change, modify, add or remove portions of these Terms of Use at any time without providing any notice. Any such changes are effective immediately and by accessing the Website after we post changes to these Terms of Use, you acknowledge such changes and agree to be bound by the latest version of these Terms of Use. Accordingly, we suggest that you review these Terms of Use periodically for changes.


The Website is provided for informational purposes only and nothing contained on the Website constitutes any kind of recommendation or advice, including without limitation any investment, legal or tax advice. By making information available on the Website, HBK does not represent that any particular security, product or service is available or suitable for any particular person. Decisions based on information contained on the Website are your sole responsibility and you alone are responsible for any losses, costs, damages or the like incurred by you, your clients or any third parties arising out of or relating thereto.

No material or opinion contained on the Website is, and nothing on the Website shall be considered to be, an offer to sell or a solicitation of an offer to buy any product, security or service. Offers can only be made where lawful under, and in compliance with, applicable laws, rules and regulations. No product, security or service is offered or will be sold in any jurisdiction in which such offer or sale would be unlawful under the laws, rules or regulations of such jurisdiction.

The materials on the Website are provided "AS IS" and without warranties of any kind. The Website may contain information that is not verified, tested or audited by HBK. Therefore, with respect to the use of the Website, results obtained from, or any information or materials available on the Website, HBK expressly disclaims, to the fullest extent permitted under applicable law, any and all warranties, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement.

HBK assumes no responsibility for, and makes no warranties that, the Website will operate uninterrupted or be error-free, that defects will be corrected or that the Website will be free of viruses, malware or other harmful or destructive code.


Limitation of Liability, Injunctive Relief and Indemnity

Under no circumstances will HBK or any of its officers, directors, principals, agents or employees be liable for any claims, liabilities, losses, costs or damages, including direct, indirect, punitive, incidental, special or consequential damages, arising out of or in any way relating to your use of, or access to, or inability to use or access the Website, any delay in using the Website or otherwise arising out of your use of the Website. These limitations apply even if HBK or any of its officers, directors, principals, agents or employees have been advised of the possibility of such losses or damages. If you live in any jurisdiction that does not allow the exclusion or limitation of liability or incidental or consequential damages, some or all of these limitations and exclusions may not apply to you.

HBK may suffer irreparable harm in the event you breach these Terms of Use, and monetary damages may be inadequate to compensate for such breach. Therefore, in addition to any other remedies available to it at law or in equity, HBK is entitled to injunctive relief to enforce these Terms of Use without the requirement of posting a bond.

If HBK prevails in any action arising out of or relating to these Terms of Use, you will reimburse HBK for all costs and expenses reasonably incurred by it in connection therewith, including without limitation reasonable attorneys’ fees and expenses.

You will be responsible to HBK, including its officers, directors, principals, agents or employees, for any and all claims, losses, damages, liabilities, proceedings and demands (including reasonable attorneys’ fees), arising out of or relating to your use of the Website or your breach of these Terms of Use.

Trademarks, Copyrights and other Intellectual Property

All content contained on the Website is owned or licensed by HBK and is protected by copyrights, trademarks, service marks, trade names, trade dress and/or other intellectual property rights. You may copy, reproduce or download information on the Website solely for your personal, non-commercial use, and provided you keep intact and properly display all copyright and other proprietary notices. In addition to any other limitations stated herein, you may not copy, distribute, modify, transmit, reuse, display, reproduce, publish, license, frame, create derivative works from, or otherwise use the content of the Website, including without limitation, any text, images, audio, video, software code or user interface, in whole or in part, for public or commercial purposes without first receiving HBK’s express written consent. Modification or use of the information or materials on the Website for any other purpose violates these Terms of Use and HBK’s intellectual property rights and is strictly prohibited.

Local Laws and Other Jurisdictional Issues

You are responsible for compliance with any local laws, rules or regulations related to your using or accessing the Website. The information and materials provided on the Website are not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law, rule or regulation or which would subject HBK to any registration requirement within such jurisdiction.

Privacy and Transmissions to and from the Website

Please review our Privacy Policy to learn about the information we collect about you and how we use that information. Our Privacy Policy is a part of these Terms of Use and is incorporated by this reference. By using the Website, you authorize us to use any information you provide to us, including personally identifiable information, to the extent reasonably necessary to facilitate the hosting and operation of the Website, including sharing that information with any third parties we utilize in the hosting and operation of the Website.

Please be aware that electronic communications can be intercepted by third parties and, accordingly, electronic mail and other transmissions to, from or via the Website may not be secure. Communications to HBK, particularly those containing confidential or personal information, should be sent by mail to:

HBK Investments L.P.
2300 Field Street, Suite 2200
Dallas, Texas 75201
Attention: Investor Relations
Telephone: +1 (214) 758-6108

Except as expressly set forth in our Privacy Policy, or any Fund Documents (as defined below) applicable to you, any communication or other material that you send to us through the Internet or post on the Website by electronic mail or otherwise, is and will be deemed to be non-confidential and HBK shall have no obligation of any kind with respect to such information. HBK shall be free to use any ideas, concepts, know-how or techniques contained in such communication for any purpose whatsoever, without any compensation to you or anyone else.

Links to and From Other Websites and Services

HBK may establish links between the Website and one or more websites operated by third parties. HBK does not review or monitor any of these websites and has no control over such websites, their content or any products or services offered. Any links to other websites from the Website are provided merely for your convenience and the inclusion of these links is not, and does not imply, an endorsement, representation or warranty by HBK with respect to any such websites or the content, products or services contained or accessible through such websites or the operators of such websites.

Your access to and use of any third party websites is governed by the terms of use and privacy policies of those websites, and is solely at your own risk. HBK expressly disclaims responsibility for any and all acts or omissions associated with the providers of those third-party websites.

You may not display links on any website to the Website. If you desire to display a link to the Website on another website, you must first obtain our express written consent.

Prohibited Uses

You may not:

  • Use any robot, spider, or other device, or process to search, scrape, monitor or copy the Website without our express written consent;
  • Take any action that could in any way impair, slow, damage or overburden any servers that host or operate the Website; or
  • Use the Website in any manner that would interfere with any other user’s use of the Website.

Governing Law

These Terms of Use and your use of the Website are governed by the laws of the United States of America and the State of Texas without regard to its rules on conflicts of law. Any lawsuit, legal action or the like which you bring and which arises out of or relates to the Website or these Terms of Use must be filed in the state or Federal courts located in Dallas County, Texas, and you consent to the personal jurisdiction of such courts.


No agency, partnership, joint venture, or employment is created as a result of these Terms of Use or your use of the Website. The section titles in these Terms of Use are for convenience only and have no legal or contractual effect. HBK’s failure to exercise or enforce any right or provision of these Terms of Use will not constitute a waiver of such right or provision, and no waiver by HBK of any provision of these Terms of Use will be effective unless signed in writing by HBK. If any provision of these terms is deemed unlawful, void or for any reason unenforceable, then that provision will be deemed severable from these Terms of Use and the remainder of these Terms of Use will remain in full force and effect. These Terms of Use are the entire agreement between us with respect to the subject matter hereof and supersede all prior representations and agreements between us related thereto.

Fund Document Disclaimers

Interests in HBK’s funds may only be purchased pursuant to the applicable fund’s confidential memorandum, subscription agreement, organizational documents and audited financial statements (collectively the "Fund Documents"). You must review the Fund Documents in their entirety, including the risk factors, conflicts of interest and other cautionary disclosures contained therein, before making any investment decision. The Fund Documents supersede all other documents or disclosures in all respects, and you may rely only on the information contained in the Fund Documents.

In various reports, due diligence meetings, telephone conversations, email exchanges and other communications, we provide a range of information to investors and prospective investors. In every case, such information is qualified by the Fund Documents. In particular, all such information is qualified by all of the risk factors, conflicts of interest and other cautionary disclosures contained in the Fund Documents. None of our reports or other communications is intended to, and no one has been authorized to, make any representations or statements regarding any HBK fund that is inconsistent with the applicable Fund Documents or that qualifies, limits or contradicts any of the risk factors, conflicts of interest or other cautionary disclosures contained in the Fund Documents.

The information on the Website is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice or recommendations. Investors must be willing and able to evaluate an investment in any HBK fund for themselves and to review and understand the Fund Documents in their entirety. HBK is not making any investment recommendation or giving any investment advice to any existing or prospective investor. Investors must make their own decisions regarding any investment in any HBK fund, and each investor is responsible for engaging its own legal, tax, accounting, investment, and financial advisors and other consultants to whatever extent it deems necessary in connection therewith.

All of our investment programs involve substantial risk, and there can be no assurance that our investment, risk management or other objectives will be achieved. Past performance is not an indication of future performance. The investment objectives and strategies of the funds have varied over time and may, in the future, vary materially from those used in generating past results. The funds are permitted to invest in an unlimited range of instruments and may pursue an unlimited range of investment strategies, including strategies not previously pursued or described to investors.

Investment losses may occur, and investors could lose some or all of their investment. Our portfolio is not subject to any fixed limits on concentration by industry, company, geographic region, asset type, degree of leverage, liquidity, exposure to market risk, or otherwise. We are not required to hedge any particular risk or type of risk, and our Funds may accept exposure to any risk or hold any position on an unhedged basis. Nothing herein is intended to imply that an investment in any HBK fund may be considered "conservative", "safe", or "risk-free". No regulatory authority has passed upon or endorsed this document or the merits of an investment in any HBK fund.

Last updated: February 2021