Casella Waste Systems announces pricing of public offering

Casella Waste Systems Inc., a regional solid waste, recycling and resource management services company headquartered in Rutland, Vermont, has announced pricing of an underwritten public offering of 3.1 million shares of its Class A common stock at a price of $29.50 per share, before offering discounts. The offering will result in aggregate gross proceeds of approximately $91.5 million to Casella, before deducting underwriting discounts and offering expenses, the company says.

Casella also has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 465,000 shares of Class A common stock.

All of the shares in the offering are to be sold by Casella, and the offering is expected to close on or about Jan. 25, subject to customary closing conditions, the company says.

Casella says it intends to use the net proceeds from the offering for general corporate purposes, including potential acquisitions or development of new operations or assets with the goal of complementing or expanding its business, working capital and capital expenditures.

Casella is offering the shares pursuant to an effective automatic shelf registration statement (including a prospectus) that was previously filed with the U.S. Securities and Exchange Commission (SEC).  The offering is being made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC Jan. 22 and is available on the SEC’s website at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC and will form a part of the registration statement and will also be available on the SEC’s website, the company says.

Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, also can be obtained from Raymond James & Associates Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at 800-248-8863 or by emailing prospectus@raymondjames.com.