Global Water Resources (GWRS) Prices 870K Share Common Offering at $12.50/Sh

January 16, 2020 8:31 AM EST

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Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, today announced the pricing of an underwritten public offering of 870,000 shares of its common stock at a price to the public of $12.50 per share. All of the shares are being sold by the company. The gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $10.9 million. The offering is expected to close on or about January 21, 2020, subject to customary closing conditions. 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.

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.

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