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Global Water Completes $10.9 Million Public Offering of Common Stock
PHOENIX, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, today announced that it
About this update from Global Water Resources, Inc.
[{"type":"text","content":"PHOENIX, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, today announced that it completed a public offering of 870,000 shares of its common stock at a previously disclosed price of $12.50 per share. The gross proceeds to the company from the offering are approximately $10.9 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the company. The company anticipates using the net proceeds from the offering to fund acquisitions and for working capital and other general corporate purposes. In addition, the company has granted the underwriter for the offering a 30-day option to purchase up to an additional 130,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.\n Roth Capital Partners acted as sole manager for the offering. The offering was 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 August 22, 2017. A final prospectus supplement and accompanying base prospectus relating to and describing the final terms of the offering is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660; (800) 678-9147. 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 12 utility companies which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. The company recycles nearly 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 o...