Solaris Oilfield Infrastructure Inc. priced its IPO of 10.1 million shares of its class A common stock at $12 per share, the Houston-based company said May 12.

Solaris, a manufacturer of proppant management systems deployed in U.S. shale plays, said it expects about $110.8 million of net proceeds, or $127.9 million if underwriters of the offering exercise the option to purchase roughly 1.5 million additional shares in full.

Solaris said it intends to contribute all of the proceeds from the IPO to its subsidiary, Solaris Oilfield Infrastructure LLC, in exchange for limited liability company units in Solaris LLC.

The proceeds then will be used by Solaris LLC to repay borrowings incurred under its credit facility, to pay cash bonuses to certain employees and consultants, to make a cash distribution to the existing owners and for other general corporate purposes, including to fund its 2017 capital program, according to the company release.

The offering is expected to close on May 17, subject to customary closing conditions. Solaris said it expects the shares to begin trading on the New York Stock Exchange under the ticker symbol “SOI” on May 12.

Credit Suisse and Goldman Sachs & Co. LLC were joint book-running managers for the offering.