AquaVenture Announces Pricing of Public Offering of Ordinary Shares
July 10 2019 - 9:00PM
Business Wire
AquaVenture Holdings Limited (NYSE: WAAS) (“AquaVenture” or the
“Company”), a leader in Water-as-a-Service® (“WAAS®”) solutions,
announced today the pricing of its previously announced
underwritten public offering of 4,100,000 ordinary shares at a
public offering price of $16.88 per share. The gross proceeds to
AquaVenture from the offering, before deducting the underwriting
discounts and commissions and other estimated offering expenses, is
approximately $69.2 million. The Company has granted the
underwriters of the offering a 30-day option to purchase up to
615,000 additional ordinary shares. The offering is expected to
close on or about July 15, 2019.
The Company intends to use the net proceeds of the offering for
working capital and other general corporate purposes, including the
acquisition of, or investment in, complementary businesses,
products, services, technologies or other assets. Citigroup, RBC
Capital Markets and UBS Investment Bank are acting as joint
bookrunning managers for the offering. Canaccord Genuity and
Raymond James are also acting as joint bookrunning managers for the
offering. JMP Securities, B. Riley FBR, Lake Street Capital Markets
and Roth Capital Partners are acting as co-managers for the
offering.
The securities described above are being offered by AquaVenture
pursuant to a registration statement on Form S-3 previously filed
and declared effective by the Securities and Exchange Commission
(the “SEC”). The offering will be made only by means of a
prospectus supplement and related prospectus. A copy of the
registration statement, the prospectus supplement and related
prospectus can be accessed through the SEC’s website.
Alternatively, AquaVenture, the underwriters or any dealer
participating in the offering will arrange to send you the final
prospectus supplement and related prospectus, when available, if
you request it by contacting: Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 (Tel: 800-831-9146); Attention: Equity Syndicate, RBC
Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY
10281-8098, Toll-free: (877) 822-4098 or email:
equityprospectus@rbccm.com; or UBS Securities LLC, Attention:
Prospectus Department, 1285 Avenue of the Americas, New York, NY
10019, telephone: 888-827-7275 or email:
olprospectusrequest@ubs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any 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 AquaVenture
AquaVenture is a multinational provider of WAAS® solutions that
provide customers a reliable and cost-effective source of clean
drinking and process water primarily under long-term contracts that
minimize capital investment by the customer. AquaVenture is
composed of two operating platforms: Quench, a leading provider of
filtered water systems and related services with over 140,000 units
installed at institutional and commercial customer locations across
the U.S. and Canada; and Seven Seas Water, a multinational provider
of desalination and wastewater treatment solutions, providing more
than 8.5 billion gallons of potable, high purity industrial grade
and ultra-pure water per year to governmental, municipal,
industrial and hospitality customers.
Forward-Looking Statements
This release contains forward-looking statements that are made
pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933 and of Section 21E of the Securities
Exchange Act of 1934. The forward-looking statements in this
release do not constitute guarantees of future performance.
Investors are cautioned that statements in this press release
regarding management’s future expectations, beliefs, intentions,
goals, strategies, plans or prospects, including, without
limitation, statements relating to AquaVenture’s public offering,
the closing date and the amount and use of the proceeds therefrom,
constitute forward-looking statements. Forward-looking statements
can be identified by terminology such as “anticipate,” “believe,”
“could,” “could increase the likelihood,” “estimate,” “expect,”
“intend,” “is planned,” “may,” “should,” “will,” “will enable,”
“would be expected,” “look forward,” “may provide,” “would” or
similar terms, variations of such terms or the negative of those
terms. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors including those risks,
uncertainties and factors detailed in AquaVenture’s filings with
the Securities and Exchange Commission. As a result of such risks,
uncertainties and factors, AquaVenture’s actual results may differ
materially from any future results, performance or achievements
discussed in or implied by the forward-looking statements contained
herein. AquaVenture is providing the information in this press
release as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190710005914/en/
investors@aquaventure.com Investors Hotline: 855-278-WAAS
(9227)
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