Solaris Oilfield Infrastructure, which provides mobile proppant logistics equipment used in hydraulic fracturing, announced terms for its IPO on Tuesday.
The Houston, TX-based company plans to raise $175 million by offering 10.6 million shares at a price range of $15 to $18. At the midpoint of the proposed range, Solaris Oilfield Infrastructure would command a fully diluted market value of $715 million.
Solaris Oilfield Infrastructure was founded in 2014 and booked $18 million in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol SOI. Credit Suisse, Goldman Sachs, Morgan Stanley, Evercore ISI, Simmons & Co., Tudor, Pickering, Holt & Co. and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of May 8, 2017.
