Business Context and Reporting Period
Company: American Water Works Company, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 4, 2009
Event: The Company entered into an underwriting agreement for an underwritten public offering of common stock.
Key Financial Metrics
Offering Details:
- Company Shares Issued: 14,500,000 shares of Common Stock.
- Selling Stockholder Shares: 11,500,000 shares sold by RWE Aqua Holdings GmbH.
- Public Offering Price: $17.25 per share.
- Net Proceeds to Company: Approximately $241.2 million.
Other Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity positions outside of the specific offering proceeds.
Material Changes
This filing reports a material capital event rather than a change in operating performance. The primary change is the increase in equity capital through the issuance of new shares and the sale of existing shares by a major stockholder.
Guidance, Outlook, and Restrictions
Lock-Up Period: The Company, its officers and directors, and the Selling Stockholder agreed to a 90-day "lock-up" period restricting the sale of specified securities, subject to certain exceptions.
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., and Goldman, Sachs & Co. served as representatives.
Outlook/Guidance: The filing text does not provide updated financial guidance or management commentary on future operational outlook.
Investor Verification Checklist
- Verify the final closing date and actual net proceeds received versus the estimated $241.2 million.
- Confirm the dilution impact of the 14,500,000 new shares on existing shareholders.
- Review the specific exceptions to the 90-day lock-up agreement.
- Check subsequent filings for the use of proceeds from this offering.