H2O America Announces Proposed Offering of Equity Units
H2O America launched an underwritten public offering of 6.5 million equity units at a $50 stated amount, totaling $325 million, with a 975,000-unit over-allotment option. Each unit combines a forward purchase contract for common stock and a 1/20 interest in $1,000 of remarketable senior notes due 2031; shares are expected to be issued to holders on or about November 1, 2029, creating future dilution. Proceeds are earmarked for general corporate purposes including acquisitions, capex, debt repayment, and refinancing debt maturing in 2029, consistent with prior capital plans. Wells Fargo Securities and J.P.
Key figures
- Deal Value Usd
- 325000000
- Offering Price
- 50
- Shares Offered
- 6500000
- Notes maturity
- 2031
- Notes principal
- $1,000
- Unit stated amount
- $50
- Expected settlement
- on or about November 1, 2029
- Over allotment units
- 975000
- Over allotment value
- $48.75 million
- Aggregate stated amount
- $325 million
- Purchase contract ratio
- 1/20 undivided beneficial ownership interest per $1,000 note
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