Deal Details
Aqua America Completes $1.3 Billion Follow-On Offering
Summary
Aqua America, Inc. (“Aqua America” or the "Company”) (NYSE: WTR) recently completed a follow-on offering of 37,370,017 shares of common stock, inclusive of a full green shoe, generating proceeds of approximately $1.3 billion. Aqua America also completed a concurrent offering of 13,800,000 tangible equity units, inclusive of a full green shoe, generating gross proceeds of $690.0 million. Aqua America intends to use the net proceeds from the offering to fund a portion of the cash consideration for the acquisition of Peoples and to refinance existing debt.
Baird served as co-manager on the offering.
About
Aqua America, Inc. is an operator of regulated utilities that provide water or wastewater services in the United States. Aqua America offers water services through operating and maintenance contracts with municipal authorities and other parties. The Company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions and repair services to households through third-party. Aqua America serves approximately three million residential water, commercial water, fire protection, industrial water, wastewater and other water and utility customers in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is headquartered in Bryn Mawr, Pennsylvania.CONTACT US TO LEARN MORE
- Date
- April 2019
- Company
- Aqua America, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Technology & Services
- Verticals
-
Facility, Industrial, Residential & Environmental Services
- Target Geography
- North America
Share
