Solaris Energy announces offering of 6.5M shares of Class A common stock

Solaris Energy Infrastructure (SEI) announced that it has commenced an underwritten public offering of 6.5M shares of its Class A common stock. In connection with the offering, Yorktown Energy Partners, a selling stockholder of the company, expects to grant the underwriters the option to purchase up to an additional 975K shares of Class A common stock 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 in exchange for a number of Solaris membership units equal to the number of shares of Class A common stock issued in the offering. Solaris 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 is acting as book-running manager and representative of the underwriters.