---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-057180"
form_type: "8-K"
ticker: "HTO"
cik: "0000766829"
company_name: "H2O AMERICA"
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T16:33:50.463698+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SJW Group upsizes equity distribution agreement to $240M from $100M

## Summary
- Increased aggregate gross sales price of common stock under ATM program from $100M to $240M.
- Shares sold through J.P. Morgan, Janney Montgomery, RBC, and Wells Fargo as sales agents.
- Prospectus supplement filed March 1, 2023, with the SEC for the upsized offering.
- Legal opinion from Morgan, Lewis & Bockius LLP on share legality attached as Exhibit 5.1.

## SEC filing metadata
- accession: 0001193125-23-057180
- form_type: 8-K
- ticker: HTO
- cik: 0000766829
- company_name: H2O AMERICA
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766829/000119312523057180/0001193125-23-057180-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766829/000119312523057180/d421258d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-057180
- JSON: https://secwatch.observer/filing/0001193125-23-057180.json
- Plain text: https://secwatch.observer/filing/0001193125-23-057180.txt

## Key facts
- Material Agreements
  H2O AMERICA amended Amendment No. 1 with J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC valued at $240,000,000 (effective 2023-03-01).
  - Action: amendment
  - Agreement: atm program
  - Counterparty: J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC
  - Value: $240,000,000
  - Effective: 2023-03-01
  source text: On March 1, 2023, SJW Group (the “Company”) entered into an Amendment No. 1 (the “Amendment No. 1”) to the equity distribution agreement, dated November 17, 2021 (the “Agreement”), between the Company and J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC (each a “Sales Agent” and, collectively, the “Sales Agents”), pursuant to which the Company increased the aggregate gross sales price of shares of the Company’s common stock, $0.001 par value per share (the “Shares”), that may be sold under the Agreement from $100,000,000 to $240,000,000 (the “Upsized Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/766829/000119312523057180/0001193125-23-057180-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.