Item 8.01 Other Events
On January 30, 2020, Global Water Resources, Inc. (the "Company") issued an
additional 130,000 shares of its common stock, par value $0.01 per share (the
"Shares"), at a price per share of $12.50. The Shares were issued and sold
pursuant to the exercise in full of the underwriter's over-allotment option in
connection with the Company's previously disclosed public offering (the
"Offering"). The Company will receive net proceeds of approximately $1.5 million
from the exercise of the over-allotment option after deducting underwriting
discounts and commissions and estimated offering expenses payable by the
Company, resulting in total net proceeds to the Company from the Offering of
approximately $11.6 million. After giving effect to the full exercise of the
over-allotment option, the total number of shares sold by the Company in the
Offering was 1,000,000 shares.
A copy of the opinion of Snell & Wilmer L.L.P. relating to the legality of the
issuance and sale of the Shares is attached hereto as Exhibit 5.1.
On January 30, 2020, the Company issued a press release announcing the exercise
and closing of the underwriter's over-allotment option. A copy of the Company's
press release is attached hereto as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated herein by reference in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
5.1 Opinion of Snell & Wilmer L.L.P.
23.1 Consent of Snell & Wilmer L.L.P. (included in Exhibit 5.1)
99.1 Press Release, dated January 30, 2020
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