H2O America Prices $325 Million Equity Units at $50 Each

H2O America priced 6.5 million equity units Thursday, Oct. 29, at $50 each, setting a $325 million aggregate stated amount for the offering. Each unit carries annual distributions of 7.75%. It initially combines a stock purchase contract with a 1/20 undivided beneficial ownership interest in $1,000 principal amount of H2O America’s 5.300% Remarketable Senior Notes due 2031. The $325 million figure is the offering’s aggregate stated amount. H2O America estimates net proceeds of approximately $315.3 million before other offering expenses. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost