Global Water Resources completes merger with GWR Global Water Resources and closes U.S. initial public offering

On May 3, 2016, Global Water Resources, Inc. (GWR) announced the completion of its previously announced merger with GWR Global Water Resources Corp. (GWRC). As a result of the merger, GWRC ceased to exist as a British Columbia corporation and GWR, governed under the laws of the State of Delaware, continued as the surviving entity of the merger. The final court order approving the merger arrangement, under the Business Corporations Act (British Columbia), was announced on April 28, 2016.

GWR also announced the closing of its initial public offering of 1,164,800 shares of common stock at US$6.25 per share for gross proceeds of US$7,280,000 on May 3, 2016. Pursuant to the underwriting agreement, GWR issued an additional 174,720 shares, as part of the over-allotment option granted to the underwriters, at the same price as the offering, for total gross proceeds of US$1,092,000. The exercise in full of the over-allotment option, which closed on May 11, 2016, increased the total gross proceeds of the public offering to approximately US$8,372,000 million.

Roth Capital Partners acted as sole manager for the U.S. offering.

The shares of GWR's common stock are listed on the NASDAQ Global Market and the Toronto Stock Exchange under the trading symbol "GWRS" and "GWR", respectively.

Global Water Resources 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..

Further information can be found on Canada Newswire's website.