other material
confidence high
sentiment neutral
materiality 0.60
Essential Utilities registers $500M at-the-market common stock offering with six sales agents
Essential Utilities, Inc.
- Sales agreements with Barclays, RBC, TD Securities, Wells Fargo, Baird, Janney Montgomery Scott allow sale of up to $500M in common stock.
- Shares may be sold at market prices; commission of 1.00% on gross proceeds to sales agents.
- Company may enter forward sale agreements with affiliates to hedge; no initial proceeds from forward sales.
- Net proceeds intended for general corporate purposes, including water/wastewater acquisitions and debt repayment.