PHOENIX, AZ, April 28, 2016 /PRNewswire/ - Global Water Resources, Inc. (the "Company") announced today that it has priced its initial public offering of 1,164,800 shares of common stock at $6.25 per share.
The common stock is expected to begin trading later today, April 28, 2016, on the NASDAQ Global Market under the symbol "GWRS." In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 174,720 shares of common stock on the same terms and conditions.
Roth Capital Partners is acting as sole manager for the offering.
A registration statement relating to the Company's common stock has been filed with, and declared effective by, the Securities and Exchange Commission. The offering is being made only by means of a prospectus, copies of which may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660; (800) 678-9147.
Subject to the satisfaction of customary conditions, the offering and the "Reorganization Transaction" described in the registration statement are expected to close on May 3, 2016.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About Global Water Resources, Inc.
Global Water Resources, Inc. is a water resources company located in Phoenix, Arizona, that owns and operates regulated water, wastewater and recycled water utilities in the metropolitan Phoenix area.
SOURCE Global Water Resources Inc.