E&P water supplier Armada Water Assets sets terms for $15 million IPO


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Armada Water Assets, which was recently formed to treat, supply and dispose of water for oil and gas companies, announced terms for its IPO on Tuesday. The Houston, TX-based company plans to raise $15 million by offering 2.5 million shares at a price range of $5 to $7. At the midpoint of the proposed range, it would command a fully diluted market value of $104 million.

Armada Water Assets, which was founded in 2012 and booked $18 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol AWA. Aegis Capital is the sole bookrunner on the deal. No pricing date was disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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