Itron Completes $402 Million Follow-On Offering

Technology & Services

Itron follow-on offering


Summary

Itron, Inc. (“the Company”) (NASDAQ: ITRI) recently completed a follow-on offering of 3,888,889 common shares at a price of $90.00 per share, generating gross proceeds of approximately $350 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 583,333 shares at the public offering price, less the underwriting discount, which brings the total offering to $402 million. The Company intends to use the net proceeds for general corporate purposes, which may include paying for acquisitions and providing working capital.

Baird served as a co-manager on this offering.

About

Itron is a leader in the Industrial Internet of Things (IIoT), enabling utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Itron’s platform enables smart networks, software, services, devices and sensors to help their customers better manage their operations in the energy, water, and smart city spaces. Itron is among the leading technology and services companies offering end-to-end device solutions, networked solutions, and outcomes-based products and services to the utility and municipal sectors. The Company’s comprehensive offerings measure, monitor, and provide data analytics and services that enable utilities and municipalities to manage their critical resources responsibly and efficiently. Itron is headquartered in Liberty Lake, Washington.
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Technology & Services

Itron follow-on offering

Date
March 2021
Company
Itron, Inc.
Transaction
Equity Capital Markets
Sectors
Technology & Services
Verticals
Application Software
Target Location
North America

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