American States Water Company Completes $200M Equity Offering Program
American States Water Company announced the completion of its previously established at-the-market equity offering program. No further shares will be sold under this program. The ATM equity offering program, which was originally established on February 27, 2024, allowed AWR to sell shares of its common stock, from time to time at its sole discretion, having an aggregate gross sales price of up to $200M. Through June 12, AWR has fully utilized the maximum aggregate offering capacity under the program, raising $200M in gross proceeds. AWR has utilized the net proceeds from the sale of its shares, after deducting sales agent commissions and offering expenses, for general corporate purposes, including, without limitation, to pay down borrowings under its credit facility and make equity contributions to its regulated subsidiaries in support of their operations and capital expenditures. AWR has no plans to issue additional equity through the end of 2029 to support its current operations and likely beyond 2029 based on current estimates.
