SAN DIMAS, Calif.--(BUSINESS WIRE)--May. 20, 2009--
American States Water Company (NYSE:AWR) announced today that it has
completed an underwritten public offering of 1,150,000 shares of its
Common Stock, including 150,000 shares issued upon exercise of an option
granted to the underwriters to cover over-allotments, at a price per
share of $31.00 to the public. The net proceeds from the offering were
$34.2 million, after deductions of underwriting commissions and
discounts. The Company intends to use the proceeds of the offering to
repay short-term debt.
Janney Montgomery Scott LLC served as sole book-runner and lead manager
for the offering. Edward D. Jones & Co., L.P. and Brean Murray, Carret &
Co., LLC served as co-managers. Copies of the final prospectus
supplement and the prospectus related to the offering can be obtained by
contacting Janney Montgomery Scott LLC, 60 State Street, 35th Floor,
Boston, MA 02109, Attention: Equity Syndicate Department or prospectus@jmsonline.com.
This announcement 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 jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. A registration statement
relating to the shares that the company intends to sell has previously
been filed with, and has been declared effective by, the Securities and
Exchange Commission.
American States Water Company is the parent of Golden State Water
Company, American States Utility Services, Inc. and Chaparral City Water
Company. Through its subsidiaries, AWR provides water service to 1 out
of 37 Californians located within 75 communities throughout 10 counties
in Northern, Coastal and Southern California (approximately 254,000
customers) and to over 13,000 customers in the city of Fountain Hills,
Arizona and a small portion of Scottsdale, Arizona. The Company also
distributes electricity to over 23,000 customers in the Big Bear
recreational area of California. Through its contracted services
subsidiary, American States Utility Services, Inc., the Company
contracts with the U.S. government and private entities to provide
various services, including water marketing and operation and
maintenance of water and wastewater systems.
Source: American States Water Company
American States Water Company
Eva G. Tang
Senior Vice
President - Finance, Chief Financial Officer,
Corporate Secretary
and Treasurer
(909) 394-3600, extension 707