Solaris Energy Infrastructure, Inc. (SEI): M&A transaction — Solaris completes MER acquisition, $325M term loan, name change to SEI

Solaris Energy Infrastructure, Inc.

Acquired Mobile Energy Rentals (MER) for ~$60M cash + 16.46M LLC Units ($140M value) + $71M debt payoff.
Entered $325M senior secured term loan; finalizing $75M revolver (expected undrawn) replacing $300M bridge.
Renamed to Solaris Energy Infrastructure, Inc.; Class A common begins trading under SEI on Sept 12.
Lock-up agreements executed with Sean G. Johnson and C. Ross Bartley per the Contribution Agreement.
Issued 16.46M shares of Class B Common Stock in unregistered offering as partial acquisition consideration.

item 1.01 item 2.01 item 2.03 item 3.02 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Solaris Energy Infrastructure, Inc. completed an acquisition involving J Turbines, Inc. and KTR Management Company, LLC (the Contributors) for approximately $60,000,000 of base cash consideration, adjusted for customary closing balance sheet and transaction adjustments (closed 2024-09-11).

Action: acquisition
Counterparty: J Turbines, Inc. and KTR Management Company, LLC (the Contributors)
Consideration: approximately $60,000,000 of base cash consideration, adjusted for customary closing balance sheet and transaction adjustments
Closing: 2024-09-11

Exact text from the filing

Solaris LLC received all of the issued and outstanding equity interests of MER (the “Closing”). The aggregate consideration for the Contribution consisted of: • approximately $60,000,000 of base cash consideration, adjusted for customary closing balance sheet and transaction adjustments, and subject further to certain post-closing adjustments; • the issuance of

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Solaris Energy Infrastructure, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-220668

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