Benzinga | Dec 2, 2020 06:48AM EST

Evoqua Water Technologies Announces Pricing Of Secondary Offering, Which Is Expected To Result In Proceeds Of ~$301.8M

Evoqua Water Technologies Corp. (NYSE:AQUA) announced the pricing of a secondary public offering of 12 million shares of its common stock by certain institutional shareholders of the company, including certain affiliates of AEA Investors LP (collectively, the "Selling Shareholders"), which is expected to result in gross proceeds of approximately $301.8 million. Additionally, in connection with the offering, the Selling Shareholders have granted to the underwriter a 30-day option to purchase up to 1.8 million additional shares of common stock. The offering is expected to close on December 4, 2020, subject to the satisfaction of customary closing conditions.

The company is not selling any shares in the offering and will not receive any proceeds from the sale of shares being sold by the Selling Shareholders in the offering.

Citigroup is acting as sole bookrunner and underwriter for the offering.