Solaris Energy Infrastructure Files 8-K with Key Corporate Updates
Ticker: SEI · Form: 8-K · Filed: Oct 8, 2024 · CIK: 1697500
Sentiment: neutral
Topics: material-agreement, financial-obligation, executive-changes
TL;DR
Solaris Energy Infrastructure (SI) filed an 8-K detailing new financial obligations and executive changes.
AI Summary
Solaris Energy Infrastructure, Inc. announced on October 2, 2024, the entry into a material definitive agreement and the creation of a direct financial obligation. The company also reported the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements for these officers. This filing also includes Regulation FD Disclosure and financial statements and exhibits.
Why It Matters
This 8-K filing signals significant corporate actions, including financial obligations and changes in leadership, which could impact the company's strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, financial obligations, and executive changes, which inherently carry a medium level of risk due to potential impacts on operations and governance.
Key Players & Entities
- Solaris Energy Infrastructure, Inc. (company) — Registrant
- October 2, 2024 (date) — Earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-38090 (identifier) — SEC file number
FAQ
What is the nature of the material definitive agreement entered into by Solaris Energy Infrastructure, Inc. on October 2, 2024?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the summary information.
What type of direct financial obligation was created by Solaris Energy Infrastructure, Inc.?
The filing states the creation of a direct financial obligation, but the specific terms and amount of this obligation are not detailed in the provided summary.
Were there any changes in the board of directors or executive officers reported in this filing?
Yes, the filing reports the departure of directors or certain officers, the election of directors, and the appointment of certain officers.
What is the SIC code for Solaris Energy Infrastructure, Inc.?
The Standard Industrial Classification (SIC) code for Solaris Energy Infrastructure, Inc. is 3533, which corresponds to OIL & GAS FILED MACHINERY & EQUIPMENT.
When was Solaris Energy Infrastructure, Inc. formerly known as Solaris Oilfield Infrastructure, Inc. and when did the name change occur?
The company was formerly known as Solaris Oilfield Infrastructure, Inc., and the date of the name change was February 7, 2017.
Filing Stats: 1,589 words · 6 min read · ~5 pages · Grade level 11.6 · Accepted 2024-10-07 17:36:59
Key Financial Figures
- $0.01 — Which Registered Class A Common Stock, $0.01 par value SEI New York Stock Exchan
- $75 million — credit facility of up to the lesser of $75 million and a borrowing base which is calculate
- $50 million — edit facility may be increased by up to $50 million. A portion of the revolving credit faci
- $10 m — of the revolving credit facility, up to $10 million, is available for the issuance of
Filing Documents
- d842961d8k.htm (8-K) — 36KB
- d842961dex101.htm (EX-10.1) — 669KB
- d842961dex102.htm (EX-10.2) — 218KB
- d842961dex991.htm (EX-99.1) — 4KB
- 0001193125-24-233911.txt ( ) — 1281KB
- sei-20241002.xsd (EX-101.SCH) — 3KB
- sei-20241002_lab.xml (EX-101.LAB) — 18KB
- sei-20241002_pre.xml (EX-101.PRE) — 11KB
- d842961d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits Exhibit No. Description 10.1 Loan, Security and Guaranty Agreement, dated as of October 2, 2024, among Solaris Energy Infrastructure, LLC, Solaris Oilfield Site Services Operating, LLC, Solaris Oilfield Early Property, LLC, Solaris Oilfield Site Services Personnel LLC, Solaris Logistics, LLC, Solaris Oilfield Technologies, LLC, Solaris Transportation, LLC and Mobile Energy Rentals LLC, as Borrowers, Solaris Energy Infrastructure, Inc., and Bank of America, N.A. as agent for the lenders. 10.2 Intercreditor Agreement, dated as of October 2, 2024, among Bank of America, N.A., as ABL Representative, the ABL Secured Parties thereto, Silver Point Finance, LLC, as Term Loan Representative, the Loan Parties thereto, and Banco Santander, S.A. New York Branch, as administrative agent. 99.1 Press Release, dated October 3, 2024. 104 Cover Page Interactive Data File (embedded within Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOLARIS ENERGY INFRASTRUCTURE, INC. Date: October 7, 2024 By: /s/ Kyle S. Ramachandran Name: Kyle S. Ramachandran Title: President and Chief Financial Officer 3