MER is a premier provider of distributed power solutions serving the energy and commercial & industrial ("C&I") end-markets.
Transaction consideration includes $60 million of cash and the issuance of approximately 16.5 million shares of Solaris Class B common stock to MER's founders and management team, who will join Solaris post-closing
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/7/2022 | $10.00 → $12.00 | Neutral | Piper Sandler |
| 2/23/2022 | $11.00 → $10.00 | Market Perform | Cowen |
Solaris Energy Infrastructure, Inc. (NYSE:SEI) (f/k/a Solaris Oilfield Infrastructure, Inc. (NYSE: SOI)) ("Solaris" or the "Company") announced today the completion of its acquisition of Mobile Energy Rentals LLC ("MER"). In connection with the previously announced acquisition and associated growth capital commitments to scale MER's distributed power fleet, Solaris has entered into a new $325 million senior secured term loan and is in the process of finalizing a new $75 million revolving credit facility. After finalizing the new revolving credit facility, the Company expects to be undrawn on the facility. These new credit agreements replace the $300 million secured bridge term loan facilit
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) ("Solaris" or the "Company") announced today that all of the proposals related to its previously announced acquisition of Mobile Energy Rentals LLC ("MER") were approved by the requisite holders of Solaris common stock at the Company's special meeting of stockholders held earlier today (the "Special Meeting"). The final voting results from the Special Meeting will be reported in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission after certification by the Company's inspector of elections. Pending the satisfaction of customary closing conditions, the Company continues to expect the MER acquisition to
Second Quarter 2024 Summary Results and Highlights Revenue of $74 million Net income of $10 million and $0.20 per diluted Class A share; Adjusted pro forma net income* of $6 million and $0.13 per fully diluted share Adjusted EBITDA* of $21 million Generated $19 million of cash flow from operations and $18 million in free cash flow* Returned a total of $5 million to shareholders in second quarter 2024 through dividends, resulting in $178 million cumulatively returned to shareholders since 2018 Announced third quarter 2024 dividend of $0.12 per share on July 29, 2024, to be paid on September 6, 2024, which, once paid, will represent Solaris' 24th consecutive dividend Anno
SC 13D - Solaris Energy Infrastructure, Inc. (0001697500) (Subject)
SC 13D - Solaris Energy Infrastructure, Inc. (0001697500) (Subject)
SC 13G - Solaris Oilfield Infrastructure, Inc. (0001697500) (Subject)
3 - Solaris Energy Infrastructure, Inc. (0001697500) (Issuer)
3 - Solaris Energy Infrastructure, Inc. (0001697500) (Issuer)
4 - Solaris Oilfield Infrastructure, Inc. (0001697500) (Issuer)
8-K - Solaris Energy Infrastructure, Inc. (0001697500) (Filer)
8-K - Solaris Oilfield Infrastructure, Inc. (0001697500) (Filer)
DEFA14A - Solaris Oilfield Infrastructure, Inc. (0001697500) (Filer)
Piper Sandler reiterated coverage of Solaris Oilfield Infra with a rating of Neutral and set a new price target of $12.00 from $10.00 previously
Cowen reiterated coverage of Solaris Oilfield Infrastructure with a rating of Market Perform and set a new price target of $10.00 from $11.00 previously
Cowen downgraded Solaris Oilfield Infrastructure from Outperform to Market Perform and set a new price target of $12.00 from $14.00 previously
Second Quarter 2024 Summary Results and Highlights Revenue of $74 million Net income of $10 million and $0.20 per diluted Class A share; Adjusted pro forma net income* of $6 million and $0.13 per fully diluted share Adjusted EBITDA* of $21 million Generated $19 million of cash flow from operations and $18 million in free cash flow* Returned a total of $5 million to shareholders in second quarter 2024 through dividends, resulting in $178 million cumulatively returned to shareholders since 2018 Announced third quarter 2024 dividend of $0.12 per share on July 29, 2024, to be paid on September 6, 2024, which, once paid, will represent Solaris' 24th consecutive dividend Anno
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) ("Solaris" or the "Company") announced today that its Board of Directors has approved a quarterly cash dividend of $0.12 per share of Class A stock, to be paid on September 6, 2024 to holders of record as of August 23, 2024, and a distribution of $0.12 per unit to Solaris LLC unitholders, which is subject to the same payment and record dates. Second Quarter 2024 Results Conference Call Solaris also announced today that it will host a conference call to discuss its second quarter 2024 results on Friday, August 9, 2024 at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). Solaris will issue its second quarter 2024 earnings release after the m
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) ("Solaris" or the "Company"), today announced that it has entered into a definitive agreement to acquire Mobile Energy Rentals LLC ("MER"), a premier provider of distributed power solutions serving the energy and commercial & industrial ("C&I") end-markets, for a purchase price of $200 million. Transaction consideration includes $60 million of cash and the issuance of approximately 16.5 million shares of Solaris Class B common stock to MER's founders and management team, who will join Solaris post-closing. Transaction Highlights and Strategy Scale, end-market diversity, and contractual profile: Entry into critical distributed power infra
The Russell 2000 index of small caps, tracked by the iShares Russell 2000 ETF (NYSE:IWM), recorded its best weekly performance since October 2023, surging over 6% and reaching its highest level since January 2022. The rally was largely driven by Thursday’s session, where the Russell 2000 posted a remarkable 3.6% daily gain. This spike followed lower-than-expected June inflation data, which fueled speculation of potential interest rate cuts. However, Quincy Krosby, chief global strategist for LPL Financial, advises caution, suggesting that Russell 2000’s rate cut message may be “clouded by Fed’s concerns over labor market.” Krosby thinks a weaker labor market would still hurt the eco
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