Ameresco Announces Pricing of Public Offering of Class A Common Stock
March 04 2021 - 11:10PM
Business Wire
Ameresco, Inc., (NYSE: AMRC), a leading clean technology
integrator specializing in energy efficiency and renewable energy,
today announced the pricing of its underwritten public offering of
3,200,000 shares of its Class A common stock at a public offering
price of $44.00 per share. The offering consists of 2,500,000
shares offered by Ameresco and 700,000 shares offered by certain
selling stockholders. The underwriters have the option to purchase
up to 375,000 additional shares from Ameresco and up to 105,000
additional shares from a certain selling stockholder at the public
offering price, less the underwriting discount, to cover
overallotments, if any. The gross proceeds to Ameresco from the
offering, before deducting underwriting discounts and commissions
and offering expenses payable by Ameresco, are expected to be
approximately $110.0 million. Ameresco will not receive any
proceeds from the sale of the shares by the selling stockholders.
The offering is expected to close on March 9, 2021, subject to the
satisfaction of customary closing conditions.
BofA Securities and Oppenheimer & Co. Inc. are acting as
lead joint book-running managers and representatives of the
underwriters for the offering. Baird, Canaccord Genuity, Guggenheim
Securities and William Blair are also acting as joint book-running
managers for the offering. Roth Capital Partners and Craig-Hallum
are acting as co-managers for the offering.
Ameresco intends to use the net proceeds from this offering to
repay in full the outstanding U.S. dollar balance under its
revolving senior secured credit facility and for general corporate
purposes, including potential tack on acquisitions, working capital
and capital expenditures.
The shares are being offered pursuant to a shelf registration
statement on Form S-3ASR, which became automatically effective upon
filing with the Securities and Exchange Commission (SEC) on March
4, 2021.
This offering is being made only by means of a prospectus and
prospectus supplement that form a part of the registration
statement. A preliminary prospectus supplement relating to and
describing the terms of the offering has been filed with the SEC
and is available on the SEC’s website at www.sec.gov. The final
prospectus supplement relating to the offering will be filed with
the SEC. Copies of the final prospectus supplement, when available,
and the accompanying prospectus relating to the offering may also
be obtained by contacting: BofA Securities, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; or Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad St., 26th
Floor, New York, NY 10004, by telephone at (212) 667-8055 or by
email at EquityProspectus@opco.com.
This press release shall not constitute an offer to sell, or a
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 Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading
independent clean technology integrator of comprehensive services,
energy efficiency, infrastructure upgrades, asset sustainability
and renewable energy solutions for businesses and organizations
throughout North America and Europe. Ameresco’s sustainability
services include upgrades to a facility’s energy infrastructure and
the development, construction and operation of renewable energy
plants. Ameresco has successfully completed energy saving,
environmentally responsible projects with Federal, state and local
governments, healthcare and educational institutions, housing
authorities, and commercial and industrial customers. With its
corporate headquarters in Framingham, MA, Ameresco has more than
1,000 employees providing local expertise in the United States,
Canada, and the United Kingdom. For more information, visit
www.ameresco.com.
Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Ameresco, Inc., including statements about
the timing and completion of the public offering, and other
statements containing the words “projects,” “believes,”
“anticipates,” “plans,” “expects,” “will” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward looking
statements as a result of various important factors, including
risks and uncertainties related to whether or not Ameresco will be
able to raise capital through the sale of shares of Class A common
stock, market and other conditions, the satisfaction of customary
closing conditions related to the public offering, the impact of
general economic, industry or political conditions in the United
States or internationally including the ongoing COVID-19 pandemic
and other factors discussed in our Annual Report on Form 10-K for
the year ended December 31, 2020, filed with the U.S. Securities
and Exchange Commission on March 2, 2021. There can be no assurance
that Ameresco will be able to complete the public offering on the
anticipated terms, or at all. In addition, the forward-looking
statements included in this press release represent our views as of
the date of this press release. We anticipate that subsequent
events and developments will cause our views to change. However,
while we may elect to update these forward-looking statements at
some point in the future, we specifically disclaim any obligation
to do so. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the
date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210304006199/en/
Media: Ameresco: Leila Dillon, 508-661-2264,
news@ameresco.com
Investor Relations: Eric Prouty, Advisiry Partners,
212.750.5800, eric.prouty@advisiry.com Lynn Morgen, Advisiry
Partners, 212.750.5800, lynn.morgen@advisiry.com
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