secwatch.observer — SEC 8-K summary
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Issuer:     Solaris Energy Infrastructure, Inc. (SEI)
CIK:        0001697500
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001193125-24-176889
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.02, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Solaris (SOI) agrees to acquire Mobile Energy Rentals for $200M; issues preliminary Q2 results
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- Purchase price $200M: $60M cash + $140M in Solaris Class B shares (~16.5M shares) to MER founders/management.
- MER's run-rate Adjusted EBITDA ~$50M; purchase multiple ~4.0x; fleet to grow from 153 MW to 478 MW by Q3 2025.
- Solaris secures $300M bridge loan from Santander, Texas Capital, Woodforest; expects <2.0x leverage at close.
- Pro forma: management + MER team own >50% of shares; MER founders own ~27%; dividend maintained at $0.48/yr.
- Preliminary Q2 2024: revenue $70-75M, Adjusted EBITDA $20-21M, net debt $11M; to rename to Solaris Energy Infrastructure (SEI).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1697500/000119312524176889/0001193125-24-176889-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1697500/000119312524176889/d859401d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-176889

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