American States Water establishes at-the-market equity offering program for up to $200M

AMERICAN STATES WATER CO

Entered Equity Distribution Agreement on Feb 27, 2024 with Wells Fargo, Janney Montgomery Scott, RBC, and Siebert Williams Shank.
May sell up to $200M of common shares from time to time at its discretion via at-the-market offerings.
Sales agents receive a commission of 1.5% of gross proceeds; company is not obligated to sell any shares.
Offering made under existing shelf registration; shares sold by methods deemed 'at the market' under Rule 415.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AMERICAN STATES WATER CO entered into Equity Distribution Agreement with Wells Fargo Securities, LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC, Siebert Williams Shank & Co., LLC valued at up to $200,000,000 (effective 2024-02-27).

Action: entry
Agreement: atm program
Counterparty: Wells Fargo Securities, LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC, Siebert Williams Shank & Co., LLC
Value: up to $200,000,000
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, American States Water Company (the “Company”) entered into an Equity Distribution Agreement (the “Agreement”) with Wells Fargo Securities, LLC (“Wells Fargo”), Janney Montgomery Scott LLC (“JMS”), RBC Capital Markets, LLC (“RBC”), and Siebert Williams Shank & Co., LLC (“SWS”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, its common shares, no par value per share (the “Common Shares”), having an aggregate offering price of up to $200,000,000

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Source: SEC EDGAR

accession 0001104659-24-028240

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