Deal Details
Bowman Completes $57.5 Million Follow-On Offering
Summary
Bowman Consulting Group Ltd. (“Bowman”) (NASDAQ: BWMN) recently completed an underwritten public offering of 1,691,176 shares, including 220,588 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $34.00 per share, generating gross proceeds of $57.5 million. A total of 1,502,942 shares of common stock were sold by Bowman and 188,234 shares of common stock were sold by Selling Stockholders. Gross proceeds to Bowman from the offering are expected to be approximately $51.1 million. Bowman plans to use the proceeds for general corporate purposes, including organic expansion, the funding of potential acquisitions and the potential repayment of borrowings outstanding under its revolving credit facility.
Baird served as an active bookrunner on this offering.
About
Bowman is a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment. With over 2,000 employees and more than 90 offices throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman is headquartered in Reston, Virginia.CONTACT US TO LEARN MORE
- Date
- April 2024
- Company
- Bowman Consulting Group Ltd.
- Transaction
- Equity Capital Markets
- Sectors
- Technology & Services
- Verticals
-
Facility, Industrial, Residential & Environmental Services
- Target Geography
- North America
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