HOUSTON--(BUSINESS WIRE)--
Solaris Oilfield Infrastructure, Inc. (NYSE: SOI) (“Solaris”) announced today the pricing of a public offering of 7,000,000 shares of its Class A common stock (“common stock”) at $15.75 per share, of which 3,000,000 shares are to be sold by Solaris and 4,000,000 shares are to be sold by the selling stockholders named in the registration statement on Form S-1 (the “registration statement”) filed previously with the U.S. Securities and Exchange Commission (“SEC”). The selling stockholders have granted the underwriters a 30-day option to purchase from the selling stockholders up to an additional 1,050,000 shares of common stock. Solaris’ common stock is traded on the New York Stock Exchange under the ticker symbol “SOI.” The offering is expected to close on November 14, 2017, subject to customary closing conditions.
Solaris intends to use the net proceeds it receives from the offering for general corporate purposes, including to fund its 2017 capital program. Solaris will not receive any net proceeds from the sale by the selling stockholders of shares of common stock.
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 manufactures and provides patented mobile proppant management systems that unload, store and deliver proppant at oil and natural gas well sites. The systems are designed to address the challenges associated with transferring large quantities of proppant to the well site, including the cost and management of last mile logistics. The 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, the SCOOP/STACK formations and the Haynesville Shale. Solaris is also constructing a new high-capacity transload facility in Kingfisher, Oklahoma, which will serve customers with operations in the SCOOP/STACK formations.
Important Information
A registration statement relating to these securities has been filed with, and declared effective by, 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 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’ 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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