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GWRS News
GWRS Events
Global Water Resources Completes $10 Million Private Placement
Global Water Resources has recently completed a $10.0 million private placement of common stock and amended its revolving credit facility, increasing the facility by $10.0 million. Together, these financings enhance the company's financial flexibility and support continued investment across its utility portfolio. Global Water completed a private placement of 1,129,944 shares of common stock to accredited investors at a purchase price of $8.85 per share, generating aggregate gross proceeds of approximately $10.0 million. The company also amended its revolving credit facility with The Northern Trust Company, increasing borrowing capacity from $20.0 million to $30.0 million.
Global Water Resources Files $100M Mixed Securities Shelf
Global Water Resources files $100M mixed securities shelf
Global Water Resources Names Steele to Board of Directors
Global Water Resources has appointed Christa Steele to its board of directors, effective January 1, 2026. She succeeds Debra Coy who, as previously announced, will resign from the board at the end of the year to dedicate time to family and pursue other interests. Following the appointment of Steele and the resignation of Coy, the board will continue to be comprised of seven directors, with four serving as independent directors.
Global Water celebrates newly enacted 'Ag-to-Urban' program
Global Water Resources recognized the recent passage of Arizona's Assured Water Supply "Ag-to-Urban" program as a transformative development for water sustainability, housing, and economic growth across the state. The program allows landowners who cease agricultural operations to convert their water rights to the municipal sector for use in new development. By supporting the conversion of irrigated agricultural land-historically consuming an average of 3.8 acre-feet of water per acre annually in Phoenix Active Management Area and 3.0 acre-feet in the Pinal AMA-into residential uses that require only a fraction of that volume, the program directly alleviates pressure on aquifers while enabling new development opportunities. "We extend our sincere gratitude to Governor Katie Hobbs and Senator T.J. Shope for their leadership in securing legislation that meaningfully advances water stewardship and regional resilience," said Ron Fleming, president and CEO.
Global Water Resources completes acquisition of water systems from Tucson Water
Global Water Resources has completed the previously announced acquisition of seven water systems from Tucson Water, the City of Tucson's water utility. The assets were acquired at a value equivalent to approximately 1.05 times the current rate base of approximately $7.7M and are expected to generate approximately $1.5M in revenue annually. The acquired water systems are located in and around Pima County where they serve approximately 2,200 water service connections and will be integrated with existing Global Water utilities in the area. Global Water plans to install an automated meter infrastructure. This will include upgrading customer connections with smart meters that enable wireless usage metering, similar to the technology Global Water has deployed for more than 95% of its existing water connections.
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