Bookrunner Roth Capital helps fund working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., May 11 – Global Water Resources, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $1.09 million greenshoe in full, lifting total proceeds of the offering to $8.37 million. The deal was announced Jan. 19 and priced for $7.28 million with the greenshoe on April 28.
The company sold 1,339,520 common shares at $6.25 apiece. Of the shares, 174,720 were part of the fully exercised greenshoe.
Roth Capital Partners was the bookrunner.
Proceeds will be used for working capital and other general corporate purposes.
The Phoenix company owns, operates and manages water, wastewater and recycled water utilities, principally in metropolitan Phoenix. It intends to list its stock on the Nasdaq stock exchange under the symbol “GWRS.”
| Issuer: | Global Water Resources, Inc.
|
| Issue: | Common stock
|
| Amount: | $8,372,000, including $1,092,000 greenshoe of 174,720 shares
|
| Shares: | 1,339,520
|
| Price: | $6.25
|
| Warrants: | No
|
| Bookrunner: | Roth Capital Partners
|
| Announcement date: | Jan. 19
|
| Pricing date: | April 28
|
| Settlement date: | May 11
|
| Stock exchange: | Nasdaq: GWRS
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
