May 15, 2009 (FinancialWire) — American States Water Co. (NYSE: AWR) said that it sold one million common shares in a public offering on May 14, at $31 per share. Janney Montgomery Scott is serving as sole book runner and lead manager.

The company granted an over-allotment option to the underwriters to purchase an additional 150,000 shares at the same price per share. The company plans to use the proceeds of the offering to repay short-term debt.

San Dimas, California-based American States Water Company is the parent of Golden State Water, American States Utility Services and Chaparral City Water Co.

Through its subsidiaries, AWR provides water service to people located within 75 communities throughout 10 counties in Northern, Coastal and Southern California, or a total of around 254,000 customers. It also provides service to over 13,000 customers in the city of Fountain Hills, Arizona and a small portion of Scottsdale, Arizona.

The company also distributes electricity to over 23,000 customers in the Big Bear recreational area of California. Through its contracted services subsidiary, the company contracts with the U.S. government and private entities to provide various services, including water marketing and operation and maintenance of water and wastewater systems.

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