Casella announces closing of stock offering

Casella Waste Systems Inc., a Rutland, Vermont-based regional solid waste, recycling and resource management services company, has announced the closing of its previously announced underwritten public offering of its Class A common stock shares, including the full exercise of the underwriters’ option to purchase an additional 675,000 shares, at a public offering price of $100 per share.

Before deducting underwriting discounts and offering expenses, Casella says it sold just more than 5 million shares with gross proceeds of $517.5 million

Casella says it plans to use the net proceeds from the offering to finance its previously announced acquisition of Royal Carting and Welsh Sanitation, to repay borrowings under its revolving credit facility and for general corporate purposes.

RELATED: Casella announces closing of stock offering

Financial firms involved in the offering include Florida-based Raymond James, New York-based J.P. Morgan and St. Louis-based Stifel Financial acting as joint book-running managers, with New York-based Goldman Sachs & Co. LLC and New York-based Wolfe-Nomura Alliance acting as passive book-runners for the offering.

The shares were offered by Casella pursuant to an automatically effective shelf registration statement (including a prospectus) that was previously filed with the U.S. Securities and Exchange Commission (SEC). The offering was made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC’s website.

Copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or by e-mail to prospectus@raymondjames.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email to prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, or by email to syndprospectus@stifel.com.