Simpson Thacher Represents Underwriters in $373.75 Million Equity Units Offering by H2O America
The Firm represented the underwriters, led by Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, in connection with a registered offering of 7,475,000 Equity Units (including 975,000 Equity Units pursuant to the exercise in full of the underwriters’ over-allotment option) of H2O America (“H2O”), which resulted in gross proceeds of $373.75 million. H2O intends to use the net proceeds of the offering 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 Roxane Reardon, John C. Ericson, Matt Hart and Alexander Grynszpan (Capital Markets); Jonathan Cantor, Edward Grais and Jemma Li (Tax); Andrew Kofsky and Pasco Struhs (Executive Compensation and Employee Benefits); Timothy Gallagher (Real Estate); Chandler Gerard-Reimer and Priscilla Kim (Intellectual Property); and Andrew Pagliughi (FINRA and Blue Sky), with valuable assistance from Claire Heckler.