Energy Recovery (ERII) Sees IPO Price of $7-$9
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Energy Recovery (Nasdaq: ERII) has filed an amended registration statement with the SEC for an initial public offering of its common stock. The Company is offering 14,000,000 shares and expects the offering price to be between $7-$9 per share. The Company plans to list on the NASDAQ under the symbol "ERII".
The offering is being made through Citi, Credit Suisse, HSBC, Janney Montgomery Scott and SEB Enskilda.
Energy Recovery is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the rapidly growing water desalination industry. It operates primarily in the sea water reverse osmosis, or SWRO, segment of the industry.
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