Global Water Announces Proposed Public Offering of Common Stock
Global Water Resources (NASDAQ: GWRS) has announced an underwritten public offering of its common stock, with an option for the underwriter to purchase an additional 15% of shares. The offering aims to raise capital for acquisitions and general corporate needs. Roth Capital Partners is the sole manager of the offering. The company’s registration statement was effective as of September 8, 2020, and details will be available through SEC filings. Market and other conditions may impact the offering, with no guarantees on completion or terms.
- The offering aims to fund acquisitions and enhance working capital.
- The potential 15% additional shares could provide flexibility in capital raising.
- There is no assurance about the completion or terms of the offering, which introduces uncertainty.
- Market conditions could adversely affect the success of the public offering.
PHOENIX, July 27, 2022 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares are being offered by the company. In addition, the company expects to grant the underwriter for the offering a 30-day option to purchase up to an additional
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 is acting as sole manager for the offering.
The offering will be made pursuant to a registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission (SEC) on September 8, 2020. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained, when available, from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660; (800) 678-9147. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 25 systems which provide water, wastewater, and recycled water services. The company's service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly over 1 billion gallons of water annually.
Forward-Looking Statements
Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the company’s expectations regarding the completion, timing and size of the public offering, its expectations with respect to granting the underwriter a 30-day option to purchase additional shares and its anticipated use of net proceeds from the offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the offering. More information about the risks and uncertainties faced by the company is contained in the preliminary prospectus supplement to be filed with the SEC and the documents incorporated by reference therein, which include the company’s Annual Report on Form 10-K for the year ended December 31, 2021, and the company’s Quarterly Report Form 10-Q for the period ended March 31, 2022. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
mike.liebman@gwresources.com
Investor Relations:
Ron Both, CMA
Tel (949) 432-7566
GWRS@cma.team
FAQ
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