Research Reports

Summary

H2O America announced the pricing and closing of a public offering of 11,484,824 shares of common stock at $51.2775 per share, with underwriters exercising their full option for an additional 1,722,723 shares. The company issued 3,937,654 shares directly and entered forward sale agreements for 7,547,170 borrowed shares settling by March 2, 2028, to fund the Quadvest Acquisition and general corporate purposes.

Key takeaways

Offered 11,484,824 shares of common stock at $51.2775 per share via underwriting agreement dated March 2, 2026
Company issued and sold 3,937,654 shares directly to underwriters
Forward Sellers borrowed and sold 7,547,170 shares from third parties
Underwriters exercised full option for additional 1,722,723 shares on March 3, 2026
Entered Forward Sale Agreements with JPMorgan Chase Bank and Wells Fargo Bank for 7,547,170 shares at initial forward price $51.2775
Net proceeds estimated at $588.9 million to fund Quadvest Acquisition of Quadvest, L.P. and Quadvest Wholesale, LLC