H2O AMERICA (HTO) Form 8-K — Nov 3, 2026
H2O America closed on November 3, 2026 the issuance and sale of 7,475,000 equity units ($50 stated amount each) for gross proceeds of approximately $373.75 million, after the underwriters exercised their 975,000-unit over-allotment option in full. Each unit consists of a stock purchase contract obligating holders to buy HTO common stock by November 1, 2029 at $50, plus a 1/20 interest in 5.300% Remarketable Senior Notes due 2031, for a total annual distribution rate of 7.750%. Proceeds support the company's October 2026 Quadvest water and sewer utility acquisition via subsidiaries SJWTX and TWOS.
Key figures
- Gross Proceeds
- 373750000
- Offering Price
- 50
- Shares Offered
- 7475000
- Base units
- 6500000
- Rsn coupon
- 5.300%
- Rsn maturity
- 2031
- Greenshoe units
- 975000
- Reference price
- 58.5686
- Aggregate offering base
- 325000000
- Purchase price per unit
- 48.5
- Total distribution rate
- 7.750%
- Contract adjustment rate
- 2.450%
- Estimated net proceeds base
- 315250000
- Estimated net proceeds full greenshoe
- 362537500
- Purchase contract settlement deadline
- November 1, 2029
AI analysis
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