SJW Group (SJW) Prices 1.03M Share Common Offering at $59/Sh

SJW Group (NYSE: SJW) announced today that it has priced its previously announced underwritten public offering of 1,030,000 shares of its common stock, par value $0.001 per share, at a public offering price of $59.00 per share, for aggregate gross proceeds of approximately $60.77 million. SJW has also granted the underwriters a 30-day option to purchase up to an additional 154,500 shares of its common stock. The offering is expected to close on or about March 11, 2021, subject to customary closing conditions.

SJW intends to use the net proceeds from the offering to repay outstanding indebtedness and for other general corporate purposes, which may include financing infrastructure improvements, other capital expenditures and working capital.

J.P. Morgan and RBC Capital Markets are acting as book-running managers for the offering. Janney Montgomery Scott and Loop Capital Markets are serving as co-managers for the offering.

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