H2O America (HTO) Prices 11.48M Share Offering at $53 per Share

H2O America (NASDAQ:HTO) is included among the Dividend Kings List: Top 15 Stocks.

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On March 3, H2O America (NASDAQ:HTO) priced its previously announced public offering of 11.48 million common shares at $53 per share. The company also increased the size of the offering from what it had first announced on March 2.

Under the plan, H2O America will sell about 3.94 million shares directly. Another 7.55 million shares will be sold through forward sale agreements with JPMorgan Chase Bank and Wells Fargo Bank. The underwriters were also granted a 30-day option to purchase up to 1.72 million additional shares under the same terms. The company expects the offering to generate about $588.9 million in net proceeds. If the underwriters fully exercise their option, the total could reach around $677.2 million.

H2O America said the funds, together with debt financing, will help support the acquisition of Quadvest. The proceeds may also cover related transaction costs and support general corporate purposes. These could include acquisitions, capital investments, share repurchases, or debt repayment.

H2O America (NASDAQ:HTO), formerly known as SJW Group, operates as a national investor-owned network of local water and wastewater utilities focused on delivering clean, high-quality water to communities.

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