The latest announcement is out from Solaris Energy Infrastructure ( (SEI) ).
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Solaris Energy Infrastructure, Inc. entered into a flexible loan agreement with Bank of America for a revolving credit facility of up to $75 million, potentially expandable by $50 million, with interest rates based on Term SOFR or the Base Rate plus a margin. The funds will support working capital and corporate purposes. The company and its subsidiaries have pledged almost all assets as collateral, with the agreement including customary covenants and acceleration clauses for defaults. Simultaneously, the company’s COO, Kelly Price, is set to retire at the end of 2024, with plans to serve as a consultant thereafter to ensure a smooth transition, with the company beginning a search for his successor.
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