PHOENIX, AZ, May 3, 2016 /PRNewswire/ - 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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such
state or jurisdiction.
About Global Water Resources, Inc.
The Company is a
water resources company located in Phoenix, Arizona, that owns and operates
regulated water, wastewater and recycled water utilities in the
metropolitan Phoenix area.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain
forward-looking statements. These forward-looking statements
include statements that are not historical facts as well as
statements identified by words such as "expects", "anticipates",
"intends", "plans", "believes", "seeks", "estimates", or the
negative of these terms, or other words of similar meaning. These
statements are based on our current beliefs or expectations and are
inherently subject to significant uncertainties and changes in
circumstances, many of which are beyond our control. Actual results
may differ materially from these expectations due to changes in
global political, economic, business, competitive, market and
regulatory factors and other factors. We undertake no obligation to
publicly update any forward-looking statement, except as required
by law, whether as a result of new information, future developments
or otherwise.
SOURCE Global Water Resources Inc.
