other material
confidence high
sentiment neutral
materiality 0.65
Casella Waste Systems prices $450M public offering of 4.5M shares at $100/share
CASELLA WASTE SYSTEMS INC
- Offering of 4,500,000 shares at $100.00 per share; gross proceeds ~$450 million.
- Net proceeds expected ~$431.4M (or ~$496.2M if underwriters' 675,000-share option is fully exercised).
- Proceeds to fund acquisition of Royal Carting and Welsh Sanitation, repay revolver, and for general corporate purposes.
- Offering expected to close September 19, 2024; joint book-runners: Raymond James, J.P. Morgan, Stifel.
- Underwriters have a 30-day option to purchase up to an additional 675,000 shares.