SEI

#274
Solaris Energy Infrastructure, Inc. Class A Common Stock
52.8 1 USD
+0.02%
Market Price
Sector: Energy
Base: USD
Profit Currency: USD
Daily Range
52.73
53.49
Year Range
42.68
86.19
Daily Change
+1.91%
Monthly Change
+11.84%
6 month change
+8.86%
Year Change
+4.84%
Previous Close
51.8 2
Open
53.3 0
Low
52.7 3
High
53.4 9
Volume
784
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Financials

Overview Statement Statistics Dividends Documents

2026

Current report, Q3 FY2026
Solaris Energy Infrastructure, Inc. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
Solaris Energy Infrastructure, Inc. current report, Q3 FY2026
8-K
Quarterly report, Q2 FY2026
Solaris Energy Infrastructure, Inc. quarterly report, Q2 FY2026
10-Q
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
Solaris Energy Infrastructure, Inc. current report, Q2 FY2026
8-K

Solaris Energy Infrastructure, Inc. current report, Q2 FY2026

Full document

Solaris Energy Infrastructure, Inc. - Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K, dated May 12, 2026, details a significant capital structure refinancing by Solaris Energy Infrastructure, Inc. (the "Company") and its subsidiary, Solaris Energy Infrastructure, LLC (the "Issuer"). The filing reports the entry into new material definitive agreements for debt issuance and credit facilities, alongside the termination of existing term loan agreements.

Key Financial Metrics and Capital Structure

  • New Debt Issuance: Issued $1.3 billion aggregate principal amount of 6.375% Senior Notes due 2031.
  • Net Proceeds: Approximately $1,276.1 million after deducting discounts and offering expenses.
  • Use of Proceeds: Repayment of outstanding borrowings, payment of fees/expenses, and general corporate purposes including growth capital expenditures.
  • New Credit Facility: Established a $650.0 million revolving credit facility (with a $150.0 million letter of credit sublimit), expandable by up to $200.0 million.
  • Debt Repaid: Terminated a $500.0 million Senior Secured Term Loan and a $148.6 million Stonebriar Term Loan.
  • Prepayment Costs: Incurred approximately $5.9 million in prepayment fees related to the Stonebriar Term Loan termination; no early termination penalties were incurred for the Senior Secured Term Loan.

Material Changes Versus Prior Period

The Company executed a comprehensive refinancing strategy on May 12, 2026, replacing short-term term loans with long-term senior notes and a new revolving credit facility.

  • Debt Maturity Extension: Replaced term loans maturing in 2026 with Senior Notes maturing in 2031, significantly extending the debt maturity profile.
  • Liquidity Enhancement: Secured a new $650 million revolving credit facility to support working capital and general corporate purposes, replacing the terminated term facilities.
  • Interest Rate Structure: The new Senior Notes carry a fixed rate of 6.375%. The new Revolving Credit Facility utilizes variable rates based on Term SOFR or Base Rate plus an applicable margin ranging from 1.50% to 3.50% depending on leverage ratios.

Guidance, Covenants, and Risks

Financial Covenants (Revolving Credit Facility): The new Credit Agreement requires the Issuer to maintain specific financial ratios tested quarterly, commencing September 30, 2026:

  • Consolidated Net Indebtedness to Consolidated EBITDA: Maximum 5.25:1.00 (5.50:1.00 for four quarters following Material Acquisitions).
  • Consolidated Secured Net Indebtedness to Consolidated EBITDA: Maximum 3.50:1.00.
  • Consolidated EBITDA to Consolidated Cash Interest Expense: Minimum 3.00:1.00.

Senior Notes Covenants: The Indenture limits the ability to incur additional indebtedness, pay dividends, repurchase stock, make investments, create liens, and engage in affiliate transactions.

Redemption and Change of Control:

  • Optional Redemption: Prior to May 15, 2028, up to 40% of notes may be redeemed with equity proceeds at 106.375%. After May 15, 2028, redemption prices decline from 103.188% in 2028 to 100.000% in 2030.
  • Change of Control: Triggers a mandatory repurchase offer at 101% of principal plus accrued interest.

Risks: The filing notes customary events of default, including failure to make payments, covenant violations, and cross-defaults. The Credit Agreement includes mandatory prepayment requirements if certain Material Contracts are terminated and the Company fails pro forma compliance tests.

Investor Verification Checklist

  • Verify the exact amount of "outstanding borrowings" repaid with the $1.276 billion net proceeds to assess remaining liquidity.
  • Review the full text of the Indenture (Exhibit 4.1) and Credit Agreement (Exhibit 10.1) for specific definitions of "Material Acquisitions" and "Material Contracts" which impact covenant headroom.
  • Confirm the Company's current leverage ratio to determine the applicable interest rate margin on the new Revolving Credit Facility.
  • Assess the impact of the 6.375% fixed interest rate on future cash flow projections compared to the terminated term loans.
  • Monitor the $5.9 million prepayment fee expense impact on the current quarter's earnings.