3,643,100 shares of American Water Works Co. Inc. common stock offered at $37.625 per share.VOORHEES, N.J.--(BUSINESS WIRE)--May 9, 1996--American Water Works Co. Inc. Thursday announced the offering of 3,643,100 shares of common stock (NYSE NYSE See: New York Stock Exchange :AWK (Aho Weinberger Kernighan) A Unix programming utility developed in 1977 by Alfred Aho, Peter Weinberger and Brian Kernighan. Due to its unique pattern-matching syntax, awk is often used in data retrieval and data transformation. ) at $37.625 per share. All of the shares are being sold by the company. The offering is being underwritten by Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Inc., A.G. Edwards & Sons Inc., PaineWebber Inc. and Edward Jones Edward, Eddie, or Ed Jones is the name of: Edward Jones:
In addition, concurrently with the public offering of common stock, certain numbers of families that are existing large holders of common stock (the "Ware Family Buyers") have agreed to purchase from the company and the company has agreed to sell to the Ware Family Buyers, in a private offering, 556,900 shares of common stock at the price to the public of the public offering, less underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. discounts and commissions. American Water Works will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the sale of the common stock to invest in the common equity of its subsidiary, Pennsylvania-American Water Co., which in turn will reduce short-term indebtedness incurred to finance the acquisition of the regulated water operations and certain related assets of Pennsylvania Gas and Water Co. American Water Works Co. is the largest investor-owned and most geographically diverse water utility business in the U.S. The company, through its 22 regulated subsidiaries, serves more than 800 communities with a population of approximately 7 million in 21 states. CONTACT: American Water Works Co. Inc., Voorhees George W. Johnstone, president/CEO, 609/346-8200 |
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