Solaris Oilfield Infrastructure, Inc. Prices Initial Public Offering
May 12 2017 - 7:00AM
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) LLCAttention: Prospectus
DepartmentEleven Madison AvenueNew York, New York 10010Telephone:
(800) 221-1037newyork.prospectus@credit-suisse.com
Goldman Sachs & Co. LLCAttention: Prospectus Department200
West StreetNew York, NY 10282Telephone: (866) 471-2526Fax: (212)
902-9316prospectus-ny@ny.email.gs.com
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170512005138/en/
Solaris Oilfield Infrastructure, Inc.Kyle S. Ramachandran,
281-501-3070Chief Financial OfficerIR@solarisoilfield.com
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