Mar. 26 at 12:37 PM
$GWRS Global Water Resources prices 2.8M shares at
$10.00 in undewritten offering
Global Water Resources announced the pricing of an underwritten public offering of 2,800,000 shares of its common stock at a price to the public of
$10.00 per share. Certain existing stockholders, including certain directors and/or their affiliates, have agreed to purchase an aggregate of 1,439,200 shares of our common stock in the offering. All of the shares are being sold by the company. The gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately
$28M.
The offering is expected to close on or about March 27, 2025, subject to customary closing conditions. In addition, the company has granted the underwriters for the offering a 30-day option to purchase up to an aggregate of 420,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The company anticipates using the net proceeds from the offering to fund acquisitions and for working capital and other general corporate purposes. Roth Capital Partners and Janney Montgomery Scott are acting as underwriters for the offering.
