HOUSTON--(BUSINESS WIRE)--
Solaris Oilfield Infrastructure, Inc. (NYSE: SOI) (“Solaris”) announced
today the pricing of its initial public offering of 10,100,000 shares of
its Class A common stock at $12.00 per share. The shares are expected to
begin trading on the New York Stock Exchange under the ticker symbol
“SOI” on May 12, 2017. In addition, Solaris granted the underwriters a
30-day option to purchase up to an additional 1,515,000 shares of
Solaris’ Class A common stock at the initial public offering price, less
underwriting discounts and commissions. The offering is expected to
close on May 17, 2017, subject to customary closing conditions.
Solaris intends to contribute all of the approximately $110.8 million of
net proceeds, or $127.9 million if the underwriters exercise their
option to purchase additional shares in full, Solaris will receive from
this offering to its subsidiary, Solaris Oilfield Infrastructure, LLC
(“Solaris LLC”), in exchange for limited liability company units in
Solaris LLC. Solaris LLC intends to use the net proceeds to repay
borrowings incurred under its credit facility, to pay cash bonuses to
certain employees and consultants, to make a cash distribution to the
existing owners of Solaris LLC, and for other general corporate
purposes, including to fund Solaris’ 2017 capital program.
Credit Suisse and Goldman Sachs & Co. LLC acted as joint book-running
managers for the offering. The offering of these securities will be made
only by means of a prospectus that meets the requirements of Section 10
of the Securities Act of 1933. A copy of the prospectus may be obtained
from:
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
Eleven
Madison Avenue
New York, New York 10010
Telephone: (800)
221-1037
[email protected]
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200
West Street
New York, NY 10282
Telephone: (866) 471-2526
Fax:
(212) 902-9316
[email protected]
About Solaris Oilfield Infrastructure, Inc.
Solaris Oilfield Infrastructure, Inc. manufactures and provides patented
mobile proppant management systems that unload, store and deliver
proppant at oil and natural gas well sites, and its systems are deployed
in many of the most active oil and natural gas basins in the United
States, including the Permian Basin, the Eagle Ford Shale and the
SCOOP/STACK formation.
Important Information
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission
(the “SEC”). The registration statement may be obtained free of charge
at the SEC’s website at www.sec.gov
under “Solaris Oilfield Infrastructure, Inc.” This press release shall
not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, including statements regarding the closing of the initial
public offering and Solaris’ use of proceeds from the offering,
represent Solaris’ expectations or beliefs concerning future events, and
it is possible that the results described in this press release will not
be achieved. These forward-looking statements are subject to risks,
uncertainties and other factors, many of which are outside of Solaris’
control, that could cause actual results to differ materially from the
results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it
is made, and, except as required by law, Solaris does not undertake any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. New factors
emerge from time to time, and it is not possible for Solaris to predict
all such factors. When considering these forward-looking statements, you
should keep in mind the risk factors and other cautionary statements in
the prospectus filed with the SEC in connection with Solaris’ initial
public offering. The risk factors and other factors noted in Solaris’
prospectus could cause its actual results to differ materially from
those contained in any forward-looking statement.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170512005138/en/
Solaris Oilfield Infrastructure, Inc.
Kyle S. Ramachandran,
281-501-3070
Chief Financial Officer
[email protected]
Source: Solaris Oilfield Infrastructure, Inc.