Select Water Solutions (NYSE: WTTR) announced a proposed underwritten public offering of $175.0 million of Class A common stock, with a 30-day underwriter option for additional shares. The company plans to use the net proceeds for general corporate purposes, including water infrastructure growth capital projects, potential acquisitions, or debt repayment under its sustainability-linked credit facility. Following the news, WTTR’s stock declined 6.61%, reflecting market concerns about dilution despite previous operational momentum.
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Select Water seeks $175M to fund water projects, acquisitions, cut debt
Select Water Solutions (NYSE: WTTR) announced a proposed underwritten public offering of $175.0 million of Class A common stock, with a 30-day underwriter option for additional shares. The company plans to use the net proceeds for general corporate purposes, including water infrastructure growth capital projects, potential acquisitions, or debt repayment under its sustainability-linked credit facility. Following the news, WTTR’s stock declined 6.61%, reflecting market concerns about dilution despite previous operational momentum.