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HOUSTON, December 09, 2024--(BUSINESS WIRE)--Solaris Energy Infrastructure, Inc. ("Solaris" or the "Company") (NYSE: SEI) today announced that it has commenced an underwritten public offering of 6,500,000 shares of its Class A common stock, par value $0.01 per share ("Class A common stock"). In connection with the offering, Yorktown Energy Partners X, L.P. ("Yorktown"), a selling stockholder of the Company, expects to grant the underwriters the option to purchase up to an additional 975,000 shares of Class A common stock (the "Option Shares") on the same terms and conditions within 30 days.
The Company intends to contribute all of the net proceeds it receives from the offering to Solaris Energy Infrastructure, LLC ("Solaris LLC") in exchange for a number of Solaris LLC membership units equal to the number of shares of Class A common stock issued in the offering. Solaris LLC will use the net proceeds to fund growth capital for additional power generation equipment, including new natural gas turbines and complementary "balance of plant" electrical equipment, to support customer activity. The Company will not receive any proceeds from the sale of the Option Shares offered by Yorktown.
Santander US Capital Markets LLC is acting as book-running manager and representative of the underwriters.
The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on November 25, 2024. The preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and a final prospectus supplement, when available, will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and the final prospectus supplement, when available, may be obtained by sending a request to: Santander US Capital Markets LLC, Attention: ECM Syndicate, 437 Madison Avenue, New York, NY 10022, by email at equity-syndicate@santander.us, or by telephone at 833-818-1602, or by accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of Class A common stock or any other securities, nor shall there be any sale of such shares of Class A common stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.