Casella Waste Systems Announces Proposed Public Offering of Class A Common Stock
23 January 2019 - 8:07AM
Casella Waste Systems, Inc. (NASDAQ:CWST), a regional solid waste,
recycling and resource management services company, announced today
that it has commenced an underwritten public offering of 3,100,000
shares of its Class A common stock. Casella also intends to grant
the underwriters of the offering an option for a period of 30 days
to purchase up to an additional 465,000 shares of Class A common
stock. All of the shares in the offering are to be sold by Casella.
Casella intends to use the net proceeds from the offering for
general corporate purposes, including potential acquisitions or
development of new operations or assets with the goal of
complementing or expanding its business, working capital and
capital expenditures.
Raymond James & Associates, Inc. will act as the sole
book-running manager for the offering.
The shares are being offered by Casella pursuant to an effective
automatic shelf registration statement (including a prospectus)
that was previously filed with the U.S. Securities and Exchange
Commission (“SEC”). The offering will be made only by means of the
written prospectus and prospectus supplement that form a part of
the registration statement. A preliminary prospectus supplement
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC’s website at
www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to the offering may also be obtained from
Raymond James & Associates, Inc., Attention: Equity Syndicate,
880 Carillon Parkway, St. Petersburg, Florida 33716, or by
telephone at (800) 248-8863, or by e-mail to
prospectus@raymondjames.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification of these securities under the securities laws of any
such state or jurisdiction.
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States.
Safe Harbor Statement
Certain matters discussed in this press release, including,
among others, our expectations regarding the completion of the
proposed public offering and our intended use of proceeds from the
offering, are “forward-looking statements” intended to qualify for
the safe harbors from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such by the context of
the statements, including words such as “believe,” “expect,”
“anticipate,” “plan,” “may”, “would”, “intend,” “estimate,” “will”
and other similar expressions. All of these forward-looking
statements are based on current expectations and estimates and
management's beliefs and assumptions. There can be no assurance
that Casella will be able to complete the proposed offering. Such
forward-looking statements involve a number of risks and
uncertainties, including, among other things, risks and
uncertainties relating to the satisfaction of customary closing
conditions related to the proposed public offering, and the impact
of general economic, industry or political conditions in the United
States or internationally. Additional risks and uncertainties
relating to the proposed offering, Casella and our business are
discussed in the prospectus supplement related to the proposed
offering filed with the SEC on or about the date hereof and in
other filings that we periodically make with the SEC. In addition,
the forward-looking statements included in this press release
represent our views as of the date of this press release. Casella
expressly disclaims any obligation to update such statements
whether as a result of new information, future events or otherwise,
except as required by law. These forward-looking statements should
not be relied upon as representing our views as of any date
subsequent to the date of this press release.
Investors:Ned ColettaChief Financial
Officer(802) 772-2239
Media:Joseph FuscoVice President(802)
772-2247
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