Baird served as co-manager on the offering
AboutAqua 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.
Aqua America, Inc. is an operator of regulated utilities that provide water or wastewater services in the United States. Aqua American 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 American 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.
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- April 2019
- Aqua America, Inc.
- Target Location
- North America