Bowman Consulting closes over-allotment option, raising additional $2.5M in follow-on offering

Bowman Consulting Group Ltd.

Underwriters exercised overallotment for 157,500 shares at $16.00/share; closed March 2, 2022.
Gross proceeds to Bowman approx $2.5 million; net proceeds approx $2.4 million after discounts.
Total shares sold in follow-on offering increased to 1,057,500; total gross proceeds ~$16.9 million.
Bowman intends to use net proceeds for general corporate purposes, organic growth, and potential acquisitions.
Joint book-running managers: D.A. Davidson & Co. and B. Riley Securities.

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