BUZZ-Solaris Energy Infrastructure surges to fresh record after equity raise

** Solaris Energy Infrastructure's SEI.N shares up 12% at $28.83 after follow-on stock offering

** SEI shares on the session surge as much as 17.4% to $30.22 vs their previous intraday record peak of $29.19 set on Thurs

** Houston, Texas-based oil and gas equipment firm early Tues announced pricing offering of 6.5 mln shares at $24.75

** It plans to use net proceeds of ~$156 mln to fund growth capital for additional power generation equipment, including new natural gas turbines and complementary “balance of plant” electrical equipment

** SEI shares on Thurs finished up nearly 18% at record high close of $28.44, a day after co increased Q4 adj EBITDA guidance to $36-$39 mln, from $33-$36 mln prior, driven primarily by continued enhanced utilization levels, improved cost absorption in its power solutions segment

** Prior to offering, Solaris had ~60.6 mln shares outstanding, and ~28.2 mln shares of public float, per LSEG data

** With move on Tues, shares have more than doubled since the Nov 5 election, as President-elect Donald Trump has vowed to roll back climate regulations, and open more federal lands and waters to oil and gas drilling

** Stock ended 2023 at $7.96

** Santander is lead bookrunner for the equity offering, joined by Goldman Sachs, Piper Sandler and Wolfe Capital Markets

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))