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Evoqua Water Technologies Corp. (NYSE: AQUA) has priced a secondary public offering of 12 million shares of common stock by its institutional shareholders, expecting gross proceeds of approximately $301.8 million. The sale includes a 30-day option for underwriters to purchase an additional 1.8 million shares. This offering, which closes on December 4, 2020, will not involve Evoqua selling any shares or receiving proceeds. Citigroup is the sole bookrunner for this offering, which follows an automatic shelf registration statement filed with the SEC in March 2020.
Evoqua Water Technologies Corp. (NYSE: AQUA) announced a secondary public offering of 12 million shares of common stock by institutional shareholders, including affiliates of AEA Investors LP. The shares will be sold at market prices, with a potential option for underwriters to purchase an additional 1.8 million shares. Evoqua will not sell any shares and will not receive proceeds from the offering. Citigroup is the sole underwriter for this transaction. The offering is conducted under an automatic shelf registration statement filed with the SEC.
Evoqua Water Technologies (NYSE:AQUA) reported its fourth quarter and fiscal year results for 2020, revealing a revenue decline of 6.9% to $383.9 million compared to the previous year. The decrease was mainly due to the divestiture of the Memcor product line and a 1.7% drop in organic revenue. However, net income surged to $31.1 million, significantly up from $1.9 million in the prior year. Fiscal 2020 revenue totaled $1.43 billion, down 1.0%, but adjusted EBITDA improved to $239.6 million, reflecting operational efficiencies amid COVID-19 challenges. The company continues to focus on strategic acquisitions and customer service.
Evoqua Water Technologies Corp. (NYSE: AQUA) will host its Fourth Quarter and Full Year 2020 earnings conference call on November 17 at 10:00 a.m. ET. Prior to the call, a press release will be issued detailing the company's financial results for the quarter and the full year. Interested participants can join via a dedicated conference line for both U.S. and international callers. A replay will be available starting at 1:00 p.m. ET on the same day until December 1. The session will be accessible through Evoqua's Investor Relations website.