CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

H2O America slips on $325 mln convertible offering

By Reuters News

** Shares of water utility H2O America HTO.O down 0.5% at $58.30 premarket on Fri after capital raise secured

** San Jose, California-based HTO late Thurs announced pricing 6.5 mln equity units at $50 for $325 mln raise

** 3-yr mandatory convertible units have 7.75% annual dividend; threshold appreciation price of $68.82 represents 17.5% premium over stock's last close (the reference price)

** HTO stock fell 5.2% to $58.57 on Thurs after co launched the offering for general purposes, including acquisitions, capex or debt repayment

** Wells Fargo and JP Morgan joint bookrunners

** Co, which provides water and wastewater services in California, Connecticut, Maine and Texas, has roughly $2.8 bln market cap

** Through Thurs, stock up ~20% YTD

** 5 of 7 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $65, per LSEG data

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.