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Solaris Energy prices upsized $650M convertible senior notes offering
Yahoo Financeยท 2025-10-08 11:20
Core Points - Solaris Energy Infrastructure announced a public offering of $650 million in 0.25% convertible senior notes due 2031, increasing from a previously announced size of $600 million [1] - The offering is set to settle on October 8, 2025, and includes an option for underwriters to purchase an additional $97.5 million in notes to cover over-allotments [1] - Estimated net proceeds from the offering are approximately $634.4 million, or $729.7 million if the underwriters fully exercise their option [1] - Solaris plans to allocate about $57 million of the net proceeds for capped call transactions, with the remainder intended for purchasing a subordinated convertible note from its operating subsidiary [1] - Morgan Stanley, Goldman Sachs, and Santander US Capital Markets are the book-running managers for the offering, with J. Wood Capital Advisors serving as financial advisor [1]