SJW Group Prices $588.9M Stock Offering

SJW Group, operating as H2O America, announced the pricing of its underwritten public offering of 11,484,824 shares of common stock at $53.00 per share, raising approximately $588.9 million. The offering includes direct sales to underwriters and forward sale agreements with JPMorgan Chase Bank, National Association, New York Branch and Wells Fargo Bank, National Association. The net proceeds are primarily intended to finance the Quadvest Acquisition and for general corporate purposes, including potential future acquisitions, capital expenditures, share repurchases, or debt repayment. The offering is not contingent on the Quadvest Acquisition's completion. J.P. Morgan and Wells Fargo Securities are serving as joint book-running managers for the offering, which is being made pursuant to an effective shelf registration statement filed with the United States===United States Securities and Exchange Commission.