other material
confidence high
sentiment neutral
materiality 0.60
Essential Utilities enters $1B at-the-market equity facility; prior 2022 ATM terminated
Essential Utilities, Inc.
- Entered sales agreements with 10 agents to sell up to $1B of common stock at-the-market.
- Prior October 2022 ATM agreements were terminated in connection with this new facility.
- May also use forward sale agreements with banks to hedge share sales; no immediate proceeds from those.
- Net proceeds from any sales will fund acquisitions, capex, working capital, or debt repayment.
- Sales agents receive 1% commission on gross proceeds from shares sold through them.