Solaris Energy Infrastructure, Inc. - SEI STOCK NEWS

Solaris Energy Infrastructure (NYSE: SEI) has announced an underwritten public offering of 6,500,000 shares of Class A common stock. Yorktown Energy Partners X will grant underwriters an option to purchase up to 975,000 additional shares within 30 days. The company plans to contribute the net proceeds to Solaris in exchange for membership units. The funds will be used for growth capital, specifically for additional power generation equipment including natural gas turbines and electrical equipment. Santander US Capital Markets is acting as the book-running manager for the offering, which is being made through a shelf registration statement on Form S-3.

Solaris Energy Infrastructure (NYSE:SEI) has raised its Q4 2024 Adjusted EBITDA guidance to $36-39 million, up from the previous $33-36 million range. The improvement is driven by enhanced utilization levels and better cost absorption in the Power Solutions segment, with an expected deployment of approximately 250 MW during Q4.

The company has ordered 9 additional 16.5 MW gas-fired turbines, adding 145 MW in generation capacity. Solaris plans to invest $160 million in growth capital, including $120 million for new turbines and $40 million for Selective Catalytic Reduction technology. The company expects to reach 680 MW of generation capacity by Q1 2026.

Solaris Energy Infrastructure (NYSE:SEI) has filed a new universal shelf registration statement on Form S-3 with the SEC to replace its previous registration that expired on October 22, 2024. Once effective, the new shelf registration will allow Solaris to offer and sell up to $500 million of securities, including Class A common stock and preferred stock, through one or more future offerings. The registration statement has been filed but is not yet effective, and no securities can be sold until effectiveness.

Solaris Energy Infrastructure (NYSE:SEI) has announced its participation in three upcoming investor events. The company will present at the Southwest IDEAS Conference in Dallas on November 20, 2024, at 10:00 a.m. Central Time. Additionally, Solaris will host investor meetings at the Capital One Securities Energy Conference in Houston on December 10, 2024, and the Goldman Sachs Energy, Clean Tech & Utilities Conference on January 7-8, 2025. Presentation slides for all events will be available on the company's investor relations website.

Solaris Energy Infrastructure (NYSE:SEI) reported Q3 2024 results with revenue of $75 million, a net loss of $2 million (-$0.04 per share), and Adjusted EBITDA of $22 million. The company completed the acquisition of Mobile Energy Rentals , establishing a new Power Solutions segment, funded by a $325 million secured term loan. SEI secured power service agreements totaling 450 MW of generation capacity, representing over 80% of expected 2025 ending capacity. The company approved a Q4 2024 dividend of $0.12 per share and has returned $183 million to shareholders since 2018.

Solaris Energy Infrastructure (NYSE:SEI) has announced its upcoming third quarter 2024 results conference call, scheduled for Tuesday, November 5, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). The company will release its Q3 2024 earnings after market close on November 4, 2024.

Participants can join the call from the US by dialing (844) 413-3978, or from outside the US at (412) 317-6594, referencing Solaris Energy Infrastructure, Inc. A live webcast will be available on the company's website. An audio replay will be accessible for about seven days after the call, with US callers dialing (877) 344-7529 and international callers using (412) 317-0088, with the replay access code 4005229.

Solaris Energy Infrastructure (NYSE:SEI) has announced that Chief Operating Officer Kelly Price will retire on December 31, 2024. Price, who has been COO since early 2017, will continue to support the company during the transition period and serve as an advisor throughout 2025. Chairman and CEO Bill Zartler praised Price's contributions to Solaris, highlighting his role in driving operational efficiency and delivering strategic organic initiatives that have contributed to the company's growth and success.

The announcement comes as Solaris prepares to search for a new COO, considering both internal and external candidates. This transition plan ensures a smooth handover of responsibilities and maintains continuity in the company's operations.

Solaris Energy Infrastructure, Inc. (NYSE:SEI), formerly Solaris Oilfield Infrastructure, Inc. (NYSE:SOI), has completed its acquisition of Mobile Energy Rentals (MER). The company has secured a $325 million senior secured term loan and is finalizing a $75 million revolving credit facility to support the acquisition and scale MER's distributed power fleet. These new credit agreements replace the previous $300 million secured bridge term loan facility.

Solaris has also rebranded to 'Solaris Energy Infrastructure, Inc.' and will begin trading under the new ticker symbol 'SEI' on September 12, 2024. The acquisition brings an experienced team, a highly-contracted base business, and growth opportunities in both oilfield and commercial/industrial sectors, including data centers. The company aims to deliver a growing and diversified cash flow stream, enhancing its ability to pursue adjacent growth opportunities and accelerate shareholder returns.

Solaris Oilfield Infrastructure (NYSE: SOI) announced a $200 million agreement to acquire Mobile Energy Rentals (MER), involving $60 million in cash and 16.5 million Solaris Class B shares. Post-acquisition, MER's founders will own 27% of Solaris. The transaction will diversify Solaris' portfolio, emphasizing distributed power infrastructure, expected to comprise over 50% of its business. MER's EBITDA is projected at $50 million annually by Q3 2024, with plans to expand its power generation capacity from 153 MW to 478 MW by Q3 2025 with $308 million investment in turbines. Solaris will finance the acquisition through debt and cash flow, supported by a $300 million loan facility. The transaction is expected to close by Q3 2024, subject to regulatory approvals. Concurrently, Solaris will rename itself Solaris Energy Infrastructure (NYSE: SEI). Preliminary Q2 2024 financials estimate revenue between $70-75 million and Adjusted EBITDA at $20-21 million.