American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company (NYSE: AWK) has announced the pricing of an upsized registered offering of 11 million shares of common stock at $135.50 per share. Underwriters, including BofA Securities, Wells Fargo Securities, and RBC Capital Markets, have a 30-day option to purchase an additional 1.65 million shares at the same price. The offering is set to close on March 3, 2023, as part of an effective shelf registration statement filed with the SEC. Proceeds from the offering will be used as outlined in the company’s strategic financial plans.

American Water Works Company (NYSE: AWK) has launched a registered underwritten offering of 9,500,000 shares of common stock, with an option for underwriters to purchase an additional 1,425,000 shares. The offering's completion is uncertain and subject to market conditions. Proceeds will be used to pay off short-term commercial paper obligations and for general corporate purposes. BofA Securities, Wells Fargo Securities, and RBC Capital Markets are the joint book-running managers for this offering. This follows a history of providing water and wastewater services to 14 million people across 24 states.

Missouri American Water has acquired the Stewartsville water and wastewater systems, expanding its services to approximately 700 new customers in northwestern Missouri. This acquisition, located 20 miles east of St. Joseph, is part of the company's plans to invest $3.2 million over the next five years to upgrade these systems. The company aims to enhance service reliability and regulatory compliance, benefiting local residents. The acquisition was supported by a 90% voter approval from the community in November 2021, indicating strong local trust in the utility's capabilities and investments.

California American Water has announced a donation of $200,000 to the National Urban League and its affiliate, the Greater Sacramento Urban League, to support workforce development initiatives aimed at enhancing equality for underserved communities. The contribution reflects American Water's commitment to diversity, equity, and community support. Audie Foster, Director of Operations, highlighted the company's dedication to local community engagement. Dwayne Crenshaw, CEO of the Greater Sacramento Urban League, emphasized the impact of this funding on their programs aimed at empowering people in the Sacramento region.

Pennsylvania American Water is accepting entries for its 21st Annual “Protect Our Watersheds” Art Contest aimed at fourth to sixth graders. This initiative promotes awareness about water resource protection in Pennsylvania. Students are encouraged to submit artwork alongside a narrative on watershed importance. Winners, selected based on creativity and understanding, will receive bookstore gift cards and recognition. The deadline for submissions is April 22, 2023, aligning with Earth Day. The contest not only fosters artistic expression but also emphasizes the significance of environmental stewardship among the youth.

American Water Works Company (NYSE: AWK) announced the retirement of George MacKenzie from its Board of Directors after 20 years of service, effective May 10, 2023. MacKenzie, who has been a board member since 2003 and served as Board Chair from 2006 to 2018, significantly contributed to the company's successful IPO in 2008. President and CEO Susan Hardwick expressed gratitude for his leadership and insights. MacKenzie previously held senior roles at Hercules Incorporated and P.H. Glatfelter Company, enhancing American Water's governance and strategic direction during his tenure.