|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
By The Online Investor Staff, updated Thu., Apr. 18, 1:38 PM
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secondary Stock Offerings| This Slide: #19 of 25 |
Slide #19. Bowman Consulting Group Ltd. — Secondary Offering
Company:
Bowman Consulting Group Ltd. (NASDAQ:BWMN)
Date announced:
3/26/2024
Shares Offered:
1,470,588
Date of Pricing:
3/27/2024
Price Per Share:
$34.00
Secondary Offering Details:
Bowman Consulting Group Ltd. (the "Company" or "Bowman") (NASDAQ:BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the commencement of an underwritten public offering of up to $50.0 million of shares of its common stock. The Company proposes to sell up to $45.0 million of shares of its common stock in the proposed offering, and the selling stockholders, Gary Bowman, the Company's President, Chief Executive Officer and Chair of the board of directors (the "Board") and Michael Bruen, the Company's Executive Vice President and Chief Operating Officer and a director of the Board, are proposing to sell up to an aggregate of $5.0 million of shares of the Company's common stock in the proposed offering. In addition, Bowman and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an aggregate of an additional $7.5 million of shares of the Company's common stock at the price to the public, less underwriting discounts and commissions. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the proposed offering. Bowman currently intends to use the net proceeds from the sale of its shares in the offering for general corporate purposes, including organic expansion, the funding of potential acquisitions and the potential repayment of borrowings outstanding under its revolving credit facility. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. -updated 3/27- Bowman Consulting Group Ltd. (the "Company" or "Bowman") (NASDAQ:BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the pricing of its previously announced underwritten public offering at a public offering price of $34.00 per share. A total of 1,323,530 shares of common stock are being sold by Bowman and 147,058 shares of common stock are being sold by the selling stockholders, Gary Bowman, the Company's President, Chief Executive Officer and Chair of the board of directors (the "Board") and Michael Bruen, the Company's Executive Vice President and Chief Operating Officer and a director of the Board. Gross proceeds to Bowman from the offering are expected to be approximately $45.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. Bowman and the selling stockholders have granted the underwriters an option to purchase up to an additional 220,588 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on April 1, 2024, subject to customary closing conditions.
Bowman Consulting is a personnel services firm delivering solutions to customers who owns, develops and maintains the built environment. Co. provides planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services operating in an end markets.
BWMN SEC Filing Email Alerts Service
Open the BWMN Page at The Online Investor »
|
||||||||||||||||||||||||
Open the BWMN Page at The Online Investor (in a new window) »
 Free BWMN Email Alerts:
Get SEC Filing Alerts Get Dividend Alerts 
|
Avg. Broker Rec.
|
Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
Secondary Stock Offerings | www.TheOnlineInvestor.com | Copyright © 1998 - 2024, All Rights Reserved
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20 minutes, powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.