Financing ·
H2O America sells $373.8M of corporate units combining 5.3% notes with stock purchase contracts
HTOH2O America
On November 3, 2026, H2O America consummated the issuance and sale of 7,475,000 corporate units at a stated amount of $50 each, generating gross proceeds of approximately $373.8 million. Each unit consists of a purchase contract obligating holders to buy common stock by November 1, 2029, for $50 in cash, and a 1/20 undivided beneficial ownership interest in $1,000 principal amount of the company's 5.300% Remarketable Senior Notes due 2031. The total annual distribution rate is 7.750%, comprising quarterly contract adjustment payments of 2.450% and note interest of 5.300%. The notes are pledged as collateral for the stock purchase obligations. H2O America operates in the water technology sector, providing desalination and wastewater treatment solutions.