** Shares of Global Water Resources GWRS.O down 3.8% premarket to $9.81, lowest since Nov 2023, after co raises equity
** GWRS on course to fall for third straight session, if losses hold
** Phoenix, Arizona-headquartered firm, which operates and manages water, wastewater and recycled water utilities, early Weds announces pricing of 2.8 mln shares at $10 for $28 mln gross proceeds
** Offering price represents 2% discount to last close
** Co plans to use net offering proceeds for acquisitions, working capital and other general purposes
** It has ~24.2 mln shares outstanding as of Mar 3, per the SEC prospectus filing
** Roth Capital and Janney Montgomery jt bookrunners for the offering
** Through Tues close, stock down ~11% YTD and off ~20% over the past 12 months
** GWRS is very thinly traded with 90-day avg volume of about 31k shares, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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