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Solaris Energy Infrastructure, Inc. Announces Proposed Hedging Transaction to Place Borrowed Class A Common Stock in Connection with Announced Convertible Notes Offering
HOUSTON, April 30, 2025--Solaris Energy Infrastructure, Inc. Announces Proposed Hedging Transaction to Place Borrowed Class A Common Stock in Connection with Announced Convert
About this update from Solaris Energy Infrastructure, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":267,"url":"https://media.zenfs.com/en/business-wire.com/a91e3c4be29ed718933c83d9407d4dcf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/iay8mT90eF0Ck791N5dg7Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUzNDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/a91e3c4be29ed718933c83d9407d4dcf","width":480,"height":267}},"lazy":false},{"type":"text","content":"HOUSTON, April 30, 2025--(BUSINESS WIRE)--Solaris Energy Infrastructure, Inc. ("Solaris") (NYSE:SEI) announced today, in a separate press release, its intention to offer, in a separate, underwritten public offering, subject to market and other conditions, $110,000,000 aggregate principal amount of convertible senior notes due 2030 (the "notes"), plus up to an additional $15,000,000 aggregate principal amount of notes that the underwriters of the notes offering have the option to purchase from Solaris. No new shares of our Class A common stock will be issued, and we will not receive any proceeds from the concurrent delta offering.","length":657,"tagName":"p"},{"type":"text","content":"Concurrently with the offering of the notes, Morgan Stanley & Co. LLC and Santander US Capital Markets LLC, each acting severally on behalf of itself and/or its affiliates (in such capacity, the "delta offering underwriters"), intend to offer, in a separate, underwritten offering, a number of shares of our Class A common stock borrowed from third parties (the "concurrent delta offering"), to facilitate hedging transactions (whether physical and/or through derivatives) by some of the purchasers of the notes. The number of shares of our Class A common stock subject to the concurrent delta offering will be determined at the time of pricing of the concurrent delta offering, and is expected to be no greater than commercially reasonable initial short positions of such hedging investors in the notes. The concurrent delta offering and the offering of the notes are contingent upon one another.","length":921,"tagName":"p"},{"type":"text","content":"The Company has filed a shelf registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (the "SEC"). The concurrent de...