AquaVenture Holdings Announces Closing of Initial Public Offering and Exercise of Over-Allotment Option

Oct 12, 2016

AquaVenture Holdings Announces Closing of Initial Public Offering and Exercise of Over-Allotment Option

TAMPA, Fla., Oct. 12, 2016 /PRNewswire/ -- AquaVenture Holdings Limited ("AquaVenture"), a leader in water purification solutions, today announced the closing of its previously announced initial public offering of 6,500,000 ordinary shares at a public offering price of $18.00 per share, before underwriting discounts. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 975,000 ordinary shares at the initial public offering price, less the underwriting discount. As a result, the total initial public offering size was 7,475,000 shares, and the gross proceeds from the initial public offering were $134.6 million, before deducting underwriting discounts and estimated offering expenses.  AquaVenture's ordinary shares began trading on the New York Stock Exchange under the ticker symbol "WAAS" on October 6, 2016.

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Citigroup, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers for the offering. Canaccord Genuity, Raymond James and Scotiabank are acting as co-managers. 

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 5, 2016. Copies of the final prospectus relating to the offering may be obtained, when available, from: Citigroup by mail, c/o Broadridge Financial Solutions, at 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (800) 831-9146; or Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attn: Prospectus Group, by telephone at (800) 503-4611, or by email at prospectus.cpdg@db.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, or by email to equityprospectus@rbccm.com, or by telephone at (877) 822-4089.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 under the securities laws of any such state or jurisdiction.

About AquaVenture

AquaVenture is a multinational provider of Water-as-a-Service (WAASTM) solutions that provide customers a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture is composed of two operating platforms: Quench, a U.S.-based provider of Point-of-Use, or POU, filtered water systems and related services to approximately 40,000 institutional and commercial customers; and Seven Seas Water, a multinational provider of desalination and wastewater treatment solutions, providing 7 billion gallons of potable, high purity industrial grade and ultra-pure water per year to governmental, municipal, industrial and hospitality customers.

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SOURCE AquaVenture Holdings Limited