Stock Alert: Evoqua Water Drops 7% After Pricing Secondary Offering

(RTTNews) - Shares of Evoqua Water Technologies Corp. (AQUA), a provider of water and wastewater treatment systems and technologies, are falling almost 7 percent or $1.78 in Wednesday's morning trade at $24.79.

Wednesday, Evoqua Water Technologies said it has priced a secondary public offering of 12 million common shares by certain institutional shareholders of the company, including certain affiliates of AEA Investors LP. The company expects approximately $301.8 million of proceeds from the offering.

The offering is expected to close on December 4, 2020. The company is not selling any shares in the offering and will not receive any proceeds from the sale of shares being sold by the selling shareholders in the offering.

Evoqua Water Technologies has traded in a range of $7.09 to $28.38 in the past 52 weeks.