Cal Water to Acquire Ponderosa Water Company Assets
Ticker: CWT · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1035201
| Field | Detail |
|---|---|
| Company | California Water Service Group (CWT) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, water-utility, expansion
TL;DR
Cal Water buying Ponderosa Water assets, expected Q2 close.
AI Summary
California Water Service Group announced on March 11, 2024, that it has entered into a definitive agreement to acquire the assets of Ponderosa Water Company. The acquisition is expected to close in the second quarter of 2024 and will add approximately 1,100 customer connections to California Water Service's existing operations in the Ponderosa service area.
Why It Matters
This acquisition expands California Water Service Group's customer base and service territory, potentially leading to increased revenue and operational efficiencies.
Risk Assessment
Risk Level: low — The filing is a routine acquisition announcement with no immediate negative financial implications.
Key Numbers
- 1,100 — Customer Connections (Acquired from Ponderosa Water Company)
Key Players & Entities
- California Water Service Group (company) — Registrant
- Ponderosa Water Company (company) — Acquisition Target
- March 11, 2024 (date) — Report Date
- second quarter of 2024 (date) — Expected Closing
- 1,100 (number) — Customer Connections
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose is to announce California Water Service Group's definitive agreement to acquire the assets of Ponderosa Water Company.
When is the acquisition of Ponderosa Water Company expected to close?
The acquisition is expected to close in the second quarter of 2024.
How many customer connections will California Water Service Group gain from this acquisition?
California Water Service Group will gain approximately 1,100 customer connections.
What is the name of the company whose assets California Water Service Group is acquiring?
California Water Service Group is acquiring the assets of Ponderosa Water Company.
What is the filing date of this 8-K report?
The filing date of this 8-K report is March 11, 2024.
Filing Stats: 487 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-03-11 09:15:31
Key Financial Figures
- $0.01 — h registered Common Shares, par value $0.01 CWT New York Stock Exchange Indic
Filing Documents
- tm248406d1_8k.htm (8-K) — 23KB
- tm248406d1_ex99-1.htm (EX-99.1) — 14KB
- tm248406d1_ex99-1img001.jpg (GRAPHIC) — 39KB
- tm248406d1_ex99-1img002.jpg (GRAPHIC) — 9KB
- tm248406d1_ex99-1img004.jpg (GRAPHIC) — 48KB
- 0001104659-24-032785.txt ( ) — 341KB
- cwt-20240311.xsd (EX-101.SCH) — 3KB
- cwt-20240311_lab.xml (EX-101.LAB) — 33KB
- cwt-20240311_pre.xml (EX-101.PRE) — 22KB
- tm248406d1_8k_htm.xml (XML) — 3KB
01
Item 7.01. Regulation FD Disclosure. On March 11, 2024, California Water Service Group issued the press release attached as Exhibit 99.1 to this current report and incorporated by reference herein. The information furnished pursuant to Item 7.01 of this Current Report shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. We hereby furnish the following exhibit with this report: Exhibit No. Description 99.1 Press Release issued March 11, 2024 104 Cover Page Interactive Date File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CALIFORNIA WATER SERVICE GROUP Date: March 11, 2024 By: /s/ James P. Lynch Name: James P. Lynch Title: Senior Vice President, Chief Financial Officer & Treasurer