Global Water Resources, Inc. (GWRS), a pure-play water resource management company, Wednesday said it has priced its public offering of 2.8 million shares at $10 per share.
The company intends to use net proceeds from the offering of about $28 million to fund acquisitions, for working capital and other general corporate purposes.
Global Water Resources said that its existing stockholders, including certain directors and/or their affiliates, have agreed to purchase 1.44 million shares in the offering.
The company has granted the underwriters for the offering a 30-day option to purchase up to 420,000 of additional shares.
The offering is expected to close by March 27.
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