SJW Corp. SJW today announced that it has commenced an underwritten
public offering of approximately $35,000,000 of its common stock under its
existing shelf registration statement. The Company also will grant the
underwriter an option to purchase up to an additional fifteen percent (15%)
of the amount sold in the offering to cover over-allotments, if any. The
offering price of the shares and the actual number of shares to be sold will
be determined by market conditions at the time of pricing, in consultation
with the underwriter.
Robert W. Baird & Co. Incorporated will serve as the underwriter for the
offering.
The Company intends to use the net proceeds from this offering to repay its
short-term borrowings, fund the construction programs of its water utility
services and for other general corporate purposes.
The securities described above are being offered by the Company pursuant to
a "shelf" registration statement (including a prospectus) previously filed
with and declared effective by the Securities and Exchange Commission (SEC)
on December 21, 2012. A preliminary prospectus supplement has been filed
with the SEC in connection with the offering, which, together with the
accompanying prospectus, may be obtained by sending a request to Robert W.
Baird & Co. Incorporated, 777 East Wisconsin Avenue, Galleria Level,
Milwaukee, Wisconsin 53202-5391, or by calling 1-800-792-2413 or email:
syndicate@rwbaird.com. Before you invest, you should read the preliminary
prospectus supplement and accompanying prospectus, the registration
statement and the documents incorporated by reference therein, and the other
documents that the Company has filed with the SEC for more complete
information about the Company and this offering. Investors may obtain these
documents for free by visiting the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in