The Alkaline Water Company Prices $5 Million Underwritten Public Offering of Common Stock

The Alkaline Water Company Prices Million Underwritten Public Offering of Common Stock
CANNANNEW REPORT

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage® company, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $5 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The offering equates to 8,333,334 shares at a price to the public of $0.60 per share. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, repayment of indebtedness and increasing working capital expenditures. In addition, the Company granted the underwriters a 45-day option to purchase additional shares of common stock, representing up to 15% of the number of the shares, solely to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $5.75 million, if the over-allotment option is exercised in full. The offering is expected to close on May 9, 2022, subject to the satisfaction of customary closing conditions. Aegis Capital Corp. is acting as the sole book-running manager for the offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-262683) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on March 25, 2022. A final prospectus supplement and accompanying prospectus (collectively, the “Prospectus”) describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the Prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before…

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