|
American Water Announces Common Stock Offering
VOORHEES, N.J. - June 1 2009 - American Water (NYSE:AWK) today announced an offering of 26 million shares of its common stock. Pursuant to the offering, American Water will sell 14.5 million shares of common stock, and 11.5 million of the shares will be sold by the selling stockholder, a subsidiary of RWE AG. American Water plans to use the proceeds from the sale to reduce its short-term debt.
The selling stockholder has granted the underwriters a 30-day option to purchase up to 3.9 million additional shares. After the offering, and assuming no exercise of the underwriters' option, the selling stockholder is expected to own approximately 49 percent of American Water's shares.
Merrill Lynch & Co., Citi and Goldman, Sachs & Co. are acting as joint book-running managers in connection with the offering.
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 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.
An effective registration statement relating to these securities is on file with the U.S. Securities and Exchange Commission. A copy of the final prospectus and prospectus supplement may be obtained when they are available by contacting any of the following:
Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080, telephone +1 212 449 1000.
Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone +1 718 765 6732.
Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, facsimile +1 212 902 9316, e-mail prospectus-ny@ny.email.gs.com.
You may also obtain the final prospectus and prospectus supplement when they are available on the Securities and Exchange Commission's website at http://www.sec.gov.
About American Water
Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 15 million people in 32 states and Ontario, Canada.
Contacts:
American Water
Maureen Duffy
T: 856-309-4546
maureen.duffy@amwater.com
Published at Investorideas.com and water investor portal within Investorideas.com - www.water-stocks.com
Research water stocks with the global water stock directory click here
Investorideas.com Membership - Access water stocks, Biotech Stocks Directory, and more...
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory, water stocks, biotech stocks and defense stocks directory, as well as the Insiders Corner by Michael Brush.
Become an InvestorIdeas.com - Learn more: http://www.investorideas.com/membership/
News at the Investor Ideas Newswire: http://www.investorideas.com/RSS/feeds/IIMAIN.xml
Sign up for free newsletter, stock and sector news alerts at Investorideas.com
click here: http://www.investorideas.com/Resources/Newsletter.asp
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
|
