Deal Details
Follow-On Offering
Summary
Baird served as the lead book-runner on this offering
About
California Water Service Group (“Cal Water”) (NYSE: CWT), recently completed a follow-on offering of 5,750,000 common shares at a price of $19.25 per share, generating gross proceeds of approximately $111 million. Cal Water intends to use the net proceeds from the offering to fund capital expenditures, repay short-term debt and for other general corporate purposes.Cal Water is a regulated water utility, which provides water and wastewater services to residential and commercial customers through six operating subsidiaries. Formed in 1926, Cal Water is the largest investor-owned American water utility west of the Mississippi River and the third largest in the United States. Cal Water is headquartered in San Jose, California.
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- Date
- March 2013
- Company
- California Water Service Group
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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