Vermont Business Magazine Casella Waste Systems, Inc (NASDAQ:CWST), a regional solid waste, recycling and resource management services company based in Rutland, announced today the closing of its previously announced underwritten public offering of shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 352,500 shares, at a public offering price of $56.00 per share, before offering discounts. The exercise of the underwriters’ option to purchase additional shares brought the total number of shares of Class A common stock sold by Casella in the offering to 2,702,500 and increased the aggregate gross proceeds from the offering to $151.3 million, before deducting underwriting discounts and offering expenses.
Casella intends to use the net proceeds from the offering for general corporate purposes, including potential acquisitions or development of new operations or assets with the goal of complementing or expanding its business, working capital and capital expenditures.
Raymond James and BofA Securities acted as joint book-running managers for the offering. Stifel, UBS Investment Bank and KeyBanc Capital Markets acted as co-managers for the offering.
The shares were offered by Casella pursuant to an effective automatic shelf registration statement (including a prospectus) that was previously filed with the U.S. Securities and Exchange Commission (“SEC”). A final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC’s website.
Copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or by e-mail to [email protected]; or BofA Securities, Inc., Attn: Prospectus Department, at 200 North College Street, NC1-004-03-43, Charlotte NC 28255-0001, telephone: 800-294-1322 or email: [email protected].
This press release 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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides resource management expertise and services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the northeastern United States.
Source: RUTLAND, Vt., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc