Bowman Announces Pricing of Follow-On Public Offering
February 08 2022 - 7:28PM
Business Wire
Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman”), a
national engineering services firm supporting owners and developers
of the built environment, announced today that it has priced its
previously announced follow-on public offering at $16.00 per share.
A total of 900,000 shares of common stock are being sold by Bowman
and 150,000 shares of common stock are being sold by an existing
stockholder of Bowman. Bowman has granted the underwriters an
option to purchase up to an additional 157,500 shares of common
stock at the offering price, less underwriting discounts, and
commissions, to cover over-allotments, if any.
Bowman intends to use the net proceeds from the sale of its
shares in the offering for general corporate purposes, investment
in organic growth, and the funding of potential acquisitions.
Bowman will not receive any proceeds from the sale of shares of
common stock by the selling stockholder.
D.A. Davidson & Co. and B. Riley Securities are acting as
joint book-running managers for the offering.
The offering of these securities is being made only by means of
a prospectus. Copies of the prospectus relating to this offering
may be obtained from: D.A. Davidson & Co., Attention: Syndicate
Department, 8 Third Street North, Great Falls, MT 59401, by
telephone at (800) 332-5915 and by e-mail:
ProspectusRequest@dadco.com; or B. Riley Securities, Inc.,
Attention: Prospectus Department, 1300 17th Street N., Suite 1300,
Arlington, VA 22209, by telephone at (703) 312-9580 and by e-mail:
Prospectuses@brileyfin.com.
A registration statement on Form S-1, as amended, relating to
the proposed sale of these securities has been filed with, and
declared effective by, the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an established
professional services firm delivering innovative infrastructure
engineering solutions to customers who own, develop, and maintain
the built environment. With over 1,100 employees in 40 offices
throughout the United States, Bowman provides a variety of
infrastructure planning, engineering, construction management,
commissioning, environmental consulting, geomatics, survey, land
procurement and other technical services to customers operating in
a diverse set of regulated end markets. For more information, visit
bowman.com.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include all statements that are not
historical facts. The words “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect” and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements include any statements regarding
Bowman’s proposed offering. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions,
including those described under “Risk Factors” in Bowman’s
registration statement relating to the offering. Any
forward-looking statements contained in this press release speak
only as of the date hereof and, except as required by law, Bowman
specifically disclaims any obligation to update any of these
forward-looking statements to conform these statements to actual
results or revised expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20220208006265/en/
Investor Relations Bruce Labovitz ir@bowman.com (703)
787-3403
Megan McGrath mmcgrath@finprofiles.com (310) 622-8248
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