H2O America Prices $325 Million Equity Unit Offering at $50 per Unit; Shares Rise 1.43% on Nasdaq

H2O America (HTO) priced a public offering of 6.5 million equity units with a total stated value of $325 million, the company said. Each $50 unit initially includes a contract to purchase common stock in the future and a 1/20 ownership interest in $1,000 of its 5.300% Remarketable Senior Notes due 2031. The company expects net proceeds of approximately $315.3 million, or $362.5 million if underwriters fully exercise an option for up to 975,000 additional units worth $48.75 million. Underwriters have 13 days from initial issuance to exercise the over-allotment option. The offering is expected to close on November 3, 2026, subject to customary conditions. H2O America plans to list the corporate units on the Nasdaq Global Select Market within 30 days of issuance, pending approval, and intends to use proceeds for general corporate purposes, including potential acquisitions, capital investments or debt repayment. Shares were trading 1.43% higher at $59.41 on the Nasdaq.