The Firm represented the underwriters, led by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC in connection with a registered offering of 5,660,377 shares of common stock (including 1,722,723 shares pursuant to the exercise of the underwriters’ option to purchase additional shares) of H2O America (“H2O”). In addition, the Firm represented JPMorgan Chase Bank, National Association, New York Branch, and Wells Fargo Bank, National Association as forward counterparties, in connection with the execution of forward sale agreements covering an additional 7,547,170 shares of common stock offered in connection with the forward sale agreements. H2O intends to use the net proceeds of the offering from the sale of the shares of its common stock and upon settlement of the forward sale agreements, together with the net proceeds of certain debt financing, to finance its acquisition of Quadvest Wholesale, LLC’s water and sewer business and Quadvest L.P.’s water and sewer utility business, to pay related fees and expenses and for general corporate purposes.
H2O is a national investor-owned network of local water and wastewater, providing life-sustaining and high-quality water service to nearly 1.6 million people. H2O’s locally led and operated water utilities include San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine and The Texas Water Company in Texas.
The Simpson Thacher team included John C. Ericson, Jessica Ryan and Rebecca Carroll (Capital Markets); Jonathan Lindabury, Marc Langer and Diana Yen (Derivatives); Jonathan Cantor and Jemma Li (Tax); Timothy Gallagher (Real Estate); Pasco Struhs (Executive Compensation and Employee Benefits); Chandler Gerard-Reimer (Intellectual Property); and Andrew Pagliughi (FINRA and Blue Sky).