Global Water Resources (NASDAQ: GWRS), a pure-play water resource management company, has closed an underwritten public offering of 1,000,000 shares of its common stock, which includes 130,000 additional shares pursuant to the full exercise of the over-allotment option granted to the underwriters. According to the update, Global Water Resources secured approximately $12.5 million in gross proceeds from the offering in which each of the shares were sold at the public offering price of $12.50. The company anticipates using the proceeds to fund acquisitions and for working capital and other general corporate purposes. ROTH Capital Partners acted as sole manager for the offering.
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About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 12 utility companies which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. The company recycles nearly 1 billion gallons of water annually. For more information, please visit www.GWResources.com.
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