LAWFUEL – Legal News Network – Davis Polk & Wardwell advised UBS Securities LLC, A.G. Edwards & Sons, Inc. and Janney Montgomery Scott LLC as underwriters on a 3,500,000 registered common stock offering by Aqua America, Inc. Of those shares, 500,000 shares were newly issued by Aqua America and 3,000,000 shares were sold in connection with forward sales agreements with affiliates of UBS Securities LLC, A.G. Edwards & Sons, Inc. and Janney Montgomery Scott LLC.
Aqua America provides water or wastewater services to approximately two and a half million people and is the largest investor-owned water utility in the United States, based on number of people served.
The Davis Polk corporate team included partner Joseph A. Hall, associates Benjamin M. McAdams and Alina Fulop, summer associate Alexander R. Sevald and legal assistant Paulina Vargas. Partner Witold Balaban and associates Mark M. Mendez and Jason R. Sussman provided equity derivatives advice. Partner Michael Farber and associate David Ling provided tax advice. Partner Gail A. Flesher and associate Mehrsa Baradaran advised on environmental matters. All members of the Davis Polk team work in the New York office.