On October 7, Solaris Energy Infrastructure, Inc. rose 5.11% in regular trading, trading at $78.66/share with turnover of $82.83 million. The move followed the company's announcement that it expanded the size of its senior notes offering due 2032 to $1.25 billion, up from an initial $1 billion.
The notes carry a 7% coupon and were priced under Rule 144A to qualified institutional investors, with proceeds intended for general corporate purposes and related expenses. This upsizing follows the company's raised third-quarter adjusted EBITDA guidance of $110 million to $130 million and its acquisition of GESA, which is expected to be immediately accretive to earnings and free cash flow per share.
Analysts maintain an average buy rating with a mean price target of $98.12, providing additional context for the positive sentiment.
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