Southwest Water Completes $12M Private Placement of Common Stock

May 30, 2003

Southwest Water Co. completed a private placement of 1,108,033 shares of its newly issued common stock for aggregate gross proceeds of $12 million. The proceeds of this financing are intended to fund working capital needs in support of the Company's growth strategy and for general corporate purposes.

Commenting on the transaction, Anton C. Garnier, Southwest Water president and chief executive officer, said, "We are delighted with the institutional investors that participated in this financing, and we are very pleased that existing institutional investors led this transaction. This additional capital strengthens our balance sheet and positions us to continue executing our strategic plan for long-term growth."

The shares of common stock sold in this private placement have not been registered under the Securities Act of 1933 or qualified under applicable state securities laws and may not be offered or sold in the United States absent such registration and qualification or applicable exemptions from such registration and qualification. This announcement is neither an offer to sell nor a solicitation of an offer to buy such shares.

Source: Southwest Water Co.

Sponsored Recommendations

Benefits of Working with Prefabricated Electrical Conduit

Aug. 14, 2024
Learn how prefabrication of electrical conduit can mitigate risk, increase safety and consistency, and save money.

Electrical Conduit Cost Savings: A Must-Have Guide for Engineers & Contractors

Aug. 14, 2024
To help identify cost savings that don’t cut corners on quality, Champion Fiberglass developed a free resource for engineers and contractors.

Energy Efficient System Design for WWTPs

May 24, 2024
System splitting with adaptive control reduces electrical, maintenance, and initial investment costs.

Meeting the Demands of Wastewater Treatment Plants

May 24, 2024
KAESER understands the important requirements wastewater treatment plant designers and operators consider when evaluating and selecting blowers and compressed air equipment. In...