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HOUSTON - Solaris Energy Infrastructure, Inc. (NYSE:SEI), a $3.17 billion market cap company that has delivered an impressive 234% return over the past year, announced Monday its intention to offer $600 million in convertible senior notes due 2031, with an option for underwriters to purchase up to an additional $90 million in notes.
The company disclosed that concurrently with the notes offering, Morgan Stanley & Co. LLC will conduct a separate offering of borrowed shares of Solaris’s Class A common stock to facilitate hedging transactions by some notes purchasers. No new shares will be issued in this concurrent delta offering, and Solaris will not receive any proceeds from it.
Both offerings are contingent upon each other and subject to market and other conditions, according to the press release statement.
Solaris has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission for the offerings. The company noted that the concurrent delta offering will involve only existing shares borrowed from third parties, with the number of shares to be determined at pricing time.
Solaris Energy Infrastructure provides equipment-based solutions for distributed power generation and manages raw materials used in oil and natural gas well completion. The Houston-based company serves multiple U.S. markets including energy, data centers, and other commercial and industrial sectors.
In other recent news, Solaris Energy Infrastructure reported impressive financial results for the second quarter of 2025. The company posted an earnings per share of $0.34, surpassing the forecasted $0.21 by 61.9%, and achieved revenue of $149.3 million, exceeding predictions by 21.18%. This earnings beat was largely attributed to the strong performance of the Power Solutions segment, which delivered adjusted EBITDA of $45.7 million. Additionally, Solaris Energy announced the acquisition of HVMVLV, a specialty provider of electrical control and distribution equipment, for $45-50 million. This acquisition aims to enhance Solaris’s technical capabilities as part of its Power-as-a-Service strategy. In other developments, Solaris Energy has dual-listed its Class A common stock on NYSE Texas, maintaining its primary listing on the New York Stock Exchange. Analyst firms have adjusted their price targets for Solaris Energy, with Raymond James raising its target to $41 while maintaining an Outperform rating, and Piper Sandler lowering its target to $50 but keeping an Overweight rating. These updates reflect recent strategic moves and financial performance by Solaris Energy.
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