RUTLAND, Vt., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today the closing of its previously announced underwritten public offering of shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 675,000 shares, at a public offering price of $100.00 per share, before underwriting discounts. The exercise of the underwriters’ option to purchase additional shares brought the total number of shares of Class A common stock sold by Casella in the offering to 5,175,000 and increased the aggregate gross proceeds from the offering to $517.5 million, before deducting underwriting discounts and offering expenses.

Casella intends 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.

Raymond James, J.P. Morgan and Stifel acted as joint book-running managers for the offering. Goldman Sachs & Co. LLC and Wolfe | Nomura Alliance acted 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 [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email to [email protected] and [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, or by email to [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.