Global Water Resources, Inc. completes merger with GWR Global Water Resources Corp. and closes U.S. initial public offering 05/03/2016 09:11 AM ET PHOENIX, AZ, May 3, 2016 /PRNewswire via COMTEX News Network/ -- Global Water Resources, Inc. (TSX: GWR, NASDAQ: GWRS) (the "Company") announced today the completion of the previously announced merger of the Company with GWR Global Water Resources Corp. ("GWRC"). As a result of the merger, GWRC ceased to exist as a British Columbia corporation and the Company, governed under the laws of the State of Delaware, continued as the surviving entity of the merger.
The Company also announced today the closing of its previously announced initial public offering of 1,164,800 shares of common stock at U.S.$6.25 per share for gross proceeds of U.S$7,280,000 (the "U.S. IPO"). The Company has granted the underwriter of the U.S. IPO a 30-day over-allotment option to purchase up to an additional 174,720 shares of common stock on the same terms and conditions. Roth Capital Partners acted as sole manager for the U.S. IPO.
The shares of common stock of the Company are listed on the NASDAQ Global Market and the Toronto Stock Exchange under the trading symbol "GWRS" and "GWR", respectively.
A registration statement relating to the Company's common stock was declared effective by the Securities and Exchange Commission on April 27, 2016. The offering is being made only by means of a prospectus, copies of which may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660; (800) 678-9147.