Recent initial public offerings in the Utilities IPOs category.
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Slide #1. Global Water Resources, Inc. — Initial Public Offering
Global Water Resources, Inc.
Price Per Share:
GWRI also announced today that it has priced its initial public offering of 1,164,800 shares of common stock at U.S.$6.25 per share for gross proceeds of U.S$7,280,000 (the "U.S. IPO"). In addition, GWRI has granted the underwriter of the U.S. IPO a 30-day over-allotment option to purchase up to an additional 174,720 shares of common stock on the same terms and conditions. GWRI intends to use the net proceeds from the U.S. IPO for working capital and other general corporate purposes. The Arrangement and the U.S. IPO are cross-conditional and will only be completed concurrently. Subject to the satisfaction of customary conditions, the Arrangement and the U.S. IPO are expected to close on May 3, 2016. On completion of the Arrangement and the U.S. IPO, all of the shares of common stock of GWRI will be listed on the Toronto Stock Exchange under the trading symbol "GWR" and on the NASDAQ Global Market under the trading symbol "GWRS", subject to the satisfaction of applicable listing requirements.