Investment Banking - Connecticut Water Service Inc.
Transactions | Infrastructure/Environmental/Water
Client: Connecticut Water Service Inc.
Transaction Type: Common Stock Offering
- Connecticut Water Service, Inc., (NASDAQ: CTWS) (“Connecticut Water”) through its subsidiaries, operates as a regulated water company in Connecticut. It operates through three segments: Water Activities, Real Estate Transactions, and Services and Rentals. Connecticut Water was founded in 1956 and is headquartered in Clinton, Connecticut.
- Connecticut Water sold 1.7 million shares in the follow-on transaction yielding gross proceeds of $49.62 million dollars, including the overallotment.
- The proceeds of the offering were used to repay acquisition financing for Biddeford & Saco Water Co. as well as for general corporate purposes.
- The firm served as a co-manager in the transaction.