IFR US ECM Pricings
Lake Superior Acquisition (BVI, SPAC) ─ $100m IPO. 10m units (Primary) at $10.00. COHEN. Nasdaq “LKSPU”. Each unit comprises one share and one-seventh right. Lake Superior Investments. No defined target. 18 months. 100% in trust. Revised from one share and one-sixth right gearing in September 19 filing.
Solaris Energy Infrastructure (US, energy infrastructure) ─ $650m 5y cvt priced at 0.25%, up 30% versus 0%-0.5% and 27.5%-32.5% marketing. MS, GS, SANT. Upsized from $600m. Capped call to $88.00, a 100% premium. Concurrent $79.2m stock-loan facility.
Solaris Energy Infrastructure (US, energy infrastructure) ─ $79.2m ABB. 1.8m shares (Primary) at $44.00 versus $43.75-$44.75 marketing and $46.75 last sale. MS. Stock-loan facility to facilitate delta hedging on concurrent $650m CB.