American Water Works Co. Inc. (AWK) said that it has priced the secondary offering of 37.4 million shares at $21.63 per share.
The company will not sell any shares and will not receive any proceeds. All the shares will be sold by the selling stockholder, a unit of RWE AG, with proceeds going to RWE AG.
RWE granted the underwriters a 30-day option to purchase up to 3.7 million additional shares. After the offering, assuming the full exercise of the underwriters' option, the selling stockholder will have sold all of its shares of American Water's common stock.
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