Solaris loans MER $29.75M for power generation equipment ahead of acquisition close

Solaris Energy Infrastructure, Inc.

Loan of $29,750,000 to Mobile Energy Rentals LLC (MER) to fund progress payments for power generation equipment.
Secured demand note bears 10% interest; maturity Dec 6, 2024, unless called earlier.
Loan is fully secured by substantially all of MER's assets; will be cancelled and netted at closing of MER acquisition.
Acquisition of MER (previously announced) includes $60M cash and $140M in SOI LLC units at $8.50 per share.
If acquisition closes, the loan principal and interest will be netted against amounts due for the progress payments.

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