Shimmick (NASDAQ: SHIM), a leading water infrastructure company, recently announced the pricing of its initial public offering of 3,575,000 shares of its common stock at a price to the public of $7 per share. Shimmick also granted the underwriters a 30-day option to purchase up to an additional 536,250 shares at the initial public offering price, less underwriting discounts and commissions. The shares have commenced trading on the Nasdaq Global Market under the ticker symbol SHIM. Shimmick intends to use the net proceeds to repay outstanding indebtedness, with any remaining amounts to be used for working capital and other general corporate purposes, including the potential funding of future opportunistic acquisitions. Roth Capital Partners is acting as sole book-running manager and Craig-Hallum Capital Group LLC is acting as co-manager for the offering.
To view the full press release, visit https://ibn.fm/0IOv8
Shimmick is a leading provider of water infrastructure solutions nationwide. Shimmick has a long history of working on complex water projects, ranging from the world’s largest wastewater recycling and purification system in California to the iconic Hoover Dam. Shimmick is led by industry veterans, many with over 20 years of experience, and works closely with its customers to deliver complete solutions, including long-term operations and maintenance.
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