The Firm represented Essential Utilities, Inc. (“Essential”) (NYSE: WTRG) in an SEC-registered offering of 6,700,000 shares of common stock and the entry into a forward sale agreement relating to an equal number of shares. Under the forward sale agreement, Royal Bank of Canada (acting through its agent RBC Capital Markets, LLC), as the forward purchaser, borrowed 6,700,000 shares of Essential’s common stock from third parties and sold those shares to the underwriters.
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states.
The Simpson Thacher team included Roxane Reardon, Ryan Bekkerus, Matt Hart and Hilary Albrecht (Capital Markets); Jonathan Lindabury and Caitlin Wood (Derivatives); Jonathan Cantor and Jasmine Hay (Tax); Jeanne Annarumma and Pasco Struhs (Executive Compensation and Employee Benefits); and Michael Isby (Environmental).