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Global Water Announces Pricing of Public Offering of Common Stock

1. GWRS priced an underwritten public offering of 2.8 million shares at $10 each. 2. The offering is expected to raise approximately $28 million for GWRS. 3. Proceeds will finance acquisitions and support working capital needs. 4. Existing stockholders, including directors, are purchasing some shares in the offering. 5. Closing is anticipated on March 27, 2025, pending customary conditions.

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FAQ

Why Bullish?

The capital raise indicates growth strategy and financial health, similar to prior offerings that boosted stock value for growth-oriented firms. Past data shows that successful capital raises in water management often lead to increased investor confidence.

How important is it?

The offering's purpose for acquisitions and capital needs directly relates to GWRS's growth potential, influencing investor sentiment significantly.

Why Short Term?

The immediate funding from the public offering is expected to influence stock price shortly as the company moves forward with its growth initiatives.

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AWKSRESWX
March 26, 2025 08:30 ET  | Source: Global Water Resources, Inc. PHOENIX, March 26, 2025 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, today announced the pricing of an underwritten public offering of 2,800,000 shares of its common stock at a price to the public of $10.00 per share. Certain existing stockholders, including certain directors and/or their affiliates, have agreed to purchase an aggregate of 1,439,200 shares of our common stock in the offering. All of the shares are being sold by the company. The gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $28 million. The offering is expected to close on or about March 27, 2025, subject to customary closing conditions. In addition, the company has granted the underwriters for the offering a 30-day option to purchase up to an aggregate of 420,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The company anticipates using the net proceeds from the offering to fund acquisitions and for working capital and other general corporate purposes. Roth Capital Partners and Janney Montgomery Scott are acting as underwriters for the offering. The offering will be made pursuant to a registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission and declared effective on August 31, 2023. A final prospectus supplement and accompanying base prospectus relating to and describing the final terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained, when available, from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660; (800) 678-9147, or from Janney Montgomery Scott, 60 State Street, 13th Floor, Boston, MA 02109, prospectus@janney.com, (617) 557-2986. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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 Global Water Resources Global Water Resources, Inc. is a leading water resource management company that owns and operates 32 systems which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix and Tucson, Arizona. The company recycles over 1 billion gallons of water annually. Forward-Looking Statements Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the company’s expectations regarding the anticipated closing date of the offering and its anticipated use of net proceeds from the offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the offering. More information about the risks and uncertainties faced by the company is contained in the preliminary prospectus supplement filed with the SEC and the documents incorporated by reference therein, which include the company’s Annual Report on Form 10-K for the year ended December 31, 2024. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact:Michael J. LiebmanSVP and CFOTel (480) 999-5104mike.liebman@gwresources.com Investor Relations:Ron Both, CMA Tel (949) 432-7566GWRS@cma.team

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