The Alkaline Water Company Announces Closing of Public Offering of Common Stock
May 09 2022 - 9:22AM
Business Wire
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the
"Company"), the country’s largest independent alkaline water
company and the Clean Beverage® company, today announced the
closing of its public offering of 8,333,334 shares of common stock
at a public offering price of $0.60 per share. The gross proceeds
of the offering were approximately $5 million before deducting
underwriting discounts, commissions and offering expenses.
In addition, the Company granted the underwriters a 45-day
option to purchase additional shares of common stock, representing
up to 15% of the number of the shares, solely to cover
over-allotments, if any, which would increase the total gross
proceeds of the offering to approximately $5.75 million, if the
over-allotment option is exercised in full, before deducting
underwriting discounts, commissions and offering expenses.
The common stock is trading on The Nasdaq Capital Market under
the symbol “WTER”.
Aegis Capital Corp. acted as the sole book-running manager
for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-262683) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on March 24, 2022. A final
prospectus supplement and accompanying prospectus (collectively,
the "Prospectus") describing the terms of the offering has been
filed with the SEC and is available on the SEC's website located at
http://www.sec.gov. Electronic copies of the Prospectus may be
obtained, when available, by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 810 7th Avenue, 18th floor, New
York, NY 10019, by email at syndicate@aegiscap.com, or by telephone
at (212) 813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sales of the 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 The Alkaline Water Company
The Alkaline Water Company is the Clean Beverage® company making
a difference in the water you drink and the world we share.
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE:
WTER) is headquartered in Scottsdale, Arizona. Its flagship
product, Alkaline88®, is a leading premier alkaline water brand
available in bulk and single-serve sizes along with eco-friendly
aluminum packaging options. With its innovative, state-of-the-art
proprietary electrolysis process, Alkaline88® delivers perfect 8.8
pH alkaline drinking water with trace minerals and electrolytes and
boasts our trademarked label "Clean Beverage." In 2021, The
Alkaline Water Company was pleased to welcome Shaquille O’Neal to
its board of advisors and to serve as the celebrity brand
ambassador for Alkaline88®.
To purchase The Alkaline Water Company’s products online, visit
us at www.alkaline88.com.
To learn more about The Alkaline Water Company, please visit
www.thealkalinewaterco.com or connect with us on Facebook, Twitter,
Instagram, or LinkedIn.
Forward-Looking Statement Disclaimer
This news release contains "forward-looking statements."
Statements in this news release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations, or intentions regarding the future.
Such forward-looking statements include, among other things, the
following: statements relating to the exercise of the
over-allotment option.
The material assumptions supporting these forward-looking
statements include, among others, that the demand for the Company’s
products will continue to significantly grow; that the past
production capacity of the Company’s co-packing facilities can be
maintained or increased; that there will be increased production
capacity through implementation of new production facilities, new
co-packers and new technology; that there will be an increase in
number of products available for sale to retailers and consumers;
that there will be an expansion in geographical areas by national
retailers carrying the Company’s products; that there will be an
expansion into new national and regional grocery retailers; that
there will be an expansion into new e-commerce, home delivery,
convenience, and healthy food channels; that there will not be
interruptions on production of the Company’s products; that there
will not be a recall of products due to unintended contamination or
other adverse events relating to the Company’s products; and that
the Company will be able to obtain additional capital to meet the
Company’s growing demand and satisfy the capital expenditure
requirements needed to increase production and support sales
activity. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, governmental regulations being implemented
regarding the production and sale of alkaline water or any other
products, including products containing hemp/CBD; additional
competitors selling alkaline water and enhanced water products in
bulk containers reducing the Company’s sales; the fact that the
Company does not own or operate any of its production facilities
and that co-packers may not renew current agreements and/or not
satisfy increased production quotas; the fact that the Company has
a limited number of suppliers of its unique bulk bottles; the
potential for supply-chain interruption due to factors beyond the
Company’s control; the fact that there may be a recall of products
due to unintended contamination; the inherent uncertainties
associated with operating as an early stage company; changes in
customer demand and the fact that consumers may not embrace
enhanced water products as expected or at all; the extent to which
the Company is successful in gaining new long-term relationships
with new retailers and retaining existing relationships with
retailers; the Company’s ability to raise the additional funding
that it will need to continue to pursue its business, planned
capital expansion and sales activity; and competition in the
industry in which the Company operates and market conditions. These
forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements, except as required by applicable law, including the
securities laws of the United States and Canada. Although the
Company believes that any beliefs, plans, expectations, and
intentions contained in this news release are reasonable, there can
be no assurance that any such beliefs, plans, expectations, or
intentions will prove to be accurate. Readers should consult all of
the information set forth herein and should also refer to the risk
factors disclosure outlined in the reports and other documents the
Company files with the SEC, available at www.sec.gov, and on the
SEDAR, available at www.sedar.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220506005526/en/
The Alkaline Water Company Inc. Jeff Wright Director of Investor
Relations 866-242-0240 investors@thealkalinewaterco.com
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