Global water completes $15.5 million public offering of common stock; underwriter exercises full over-allotment option

Phoenix, aug. 01, 2022 (globe newswire) -- global water resources, inc. (nasdaq: gwrs), a pure-play water resource management company, today announced that it completed a public offering of 1,150,000 shares of its common stock at a previously disclosed price of $13.50 per share, which includes 150,000 shares issued and sold to the underwriter who exercised in full its option to purchase additional shares of common stock. the gross proceeds to the company from the offering are approximately $15.5 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the company. the company anticipates using the net proceeds from the offering to fund acquisitions and for working capital and other general corporate purposes.
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