American Water Works Co. Inc. (AWK) said that its unit, RWE AG, would offer 37.4 million shares of common stock as selling stockholder. Under the offering, all shares will be sold by the selling stockholder with proceeds going to RWE AG.
The selling stockholder has granted the underwriters a 30-day option to purchase up to 3.7 million additional shares.
After the offering, and assuming full exercise of the underwriters' option, the selling stockholder will have completed its divestiture of American Water.
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