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Brean Murray, Carret & Co. Serves as Co-Manager in $35.7 Million Follow-on Offering for America States Water Company
Wednesday, May 20, 2009
American States Water Company (NYSE: AWR), a provider of water and electric utility services to residential and commercial customers in California and Arizona, closed a follow-on public offering of 1.15 million shares of common stock (including the over-allotment option) at $31.00 per share for gross proceeds of approximately $35.7 million. The Company intends to use the proceeds of the offering to repay short-term debt. Brean, Murray, Carret & Co. served as a Co-Managing Underwriter of the offering.
American States Water Company is the parent of Golden State Water Company, American States Utility Services, Inc. and Chaparral City Water Company. Through these subsidiaries, the Company provides water service to 75 communities throughout ten counties in Northern, Coastal and Southern California and to over 13,000 customers in parts of Arizona. In addition, the Company is a distributor of electricity to over 23,000 customers in the Big Bear recreational area of California.
Brean Murray, Carret’s Investment Banking Group is dedicated to helping our clients achieve their strategic and financial goals. For over 35 years, the Firm has specialized in providing underwriting, financing, M&A advisory and independent financial advisory services. As demonstrated by our track record, Brean Murray, Carret’s industry knowledge, commitment and experience are critical to ensure a successful transaction.
For further details regarding this transaction or Brean Murray, Carret’s Investment Banking practice, please contact Derek Woodworth, Managing Director, at 212.702.6545. |
