Solaris Oilfield Prices Public Offering Of Shares For US$110.3 Million

Published: Nov 07 2017
Deal Summary

Solaris Oilfield Infrastructure, Inc., an oilfield service provider, priced the public offering of 7 million (MM) Class A shares, at a price of US$15.75 per share, for gross proceeds of US$110.25 MM.

Of the total, the selling stake holders will issue 4 MM shares while the remaining 3 MM shares will be issued by Solaris Oilfield. In addition, the selling stake holders intend to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares.

Credit Suisse Securities (USA) LLC, and Goldman Sachs & Co. LLC are acting as book-running managers, while Vinson & Elkins L.L.P is acting as legal advisor to the company for the offering. The company intends to use the proceeds from the offering for general corporate purposes, including funding its 2017 capital program.

The completion of the offering is subject to customary closing conditions.

Deal history

Pricing: On November 9, 2017, Solaris Oilfield priced the public offering of 7 MM Class A shares, at a price of US$15.75 per share, for gross proceeds of US$110.25 MM.

Filing: On November 7, 2017, Solaris Oilfield filed the Form S-1 with the US Securities and Exchange Commission to issue 7 MM Class A shares, in a public offering.

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