07:38 AM EDT, 10/07/2025 (MT Newswires) -- Solaris Energy Infrastructure ( SEI ) said Tuesday it priced an upsized offering of $650 million 0.25% convertible senior notes due 2031.

Underwriters were granted a 13-day option to buy up to an additional $97.5 million of notes to cover over-allotments, Solaris said.

The offering, increased from $600 million, is expected to raise net proceeds of $634.4 million, or $729.7 million if underwriters fully exercise their over-allotment option, the company said.

Net proceeds will be used, in part, to repay about $354 million of debt, acquire $92 million of new turbine capacity and fund additional generation equipment, the company said.

Separately, Solaris said Morgan Stanley ( MS ) plans a 1.8 million share offering using borrowed shares to facilitate hedging transactions by some of the purchasers of the notes. Solaris will not receive any proceeds from the concurrent offering, the company said.

The notes offering and the share offering are both scheduled to settle on Oct. 8.

Solaris shares were down 4.2% in premarket trading.