California Water Service Group has entered into an equity distribution agreement with several financial institutions, including Robert W. Baird & Co., BofA Securities, Morgan Stanley, and Wells Fargo, among others. This agreement allows for the sale of shares of the company's common stock through these institutions, acting as sales agents, on the New York Stock Exchange or through privately negotiated transactions. The company may also enter into forward sale agreements with certain forward purchasers, where shares may be borrowed and sold to hedge the purchasers' exposure. Commissions for the sales will be set at 1.0% of the gross sales price. The company anticipates fully settling any forward sale agreements by receiving net cash proceeds.
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