By Stephen Nakrosis
Shares of Global Water Resources were trading below recent 52-week lows in the after-hours market Tuesday, following news the company commenced an underwritten public offering of common stock.
Shares were down 6.8%, trading at $9.50. The stock touched a 52-week low of $10.16 in the day's regular-trading session.
The stock closed the day's regular session with a 4.8% loss, finishing at $10.20.
Proceeds from the offering will be used to fund acquisitions and for working capital and other general corporate purposes, the company said.
Year to date, the shares have lost over 20%.
Global Water Resources, which has headquarters in Phoenix, operates and manages water, wastewater and recycled water utilities.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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Global Water Resources shares have lost over 11% year-to-date. "Global Water Stock Moves Below 52-Week Low After Public Offering," at 4:46 p.m. ET, incorrectly said shares were down over 20% year-to-date.
(END) Dow Jones Newswires
March 25, 2025 17:44 ET (21:44 GMT)
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