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Water biz looks to make $100M splash with IPO


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  • | 3:32 p.m. September 28, 2015
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  • Tampa Bay-Lakeland
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TAMPA — AquaVenture Holdings LLC, a parent firm for two clean water companies, filed paperwork with the U.S. Securities and Exchange Commission to go public.

Tampa-based AquaVenture reported the maximum value of its initial public offering at up to $100 million, according to the public filings. The total number of shares and the price range for the offering has not been finalized.

AquaVenture Holdings applied to list its common shares on the New York Stock Exchange under the ticker symbol WAAS.

As part of the disclosure, the company announced it nearly doubled its net loss in 2014 to $2.13 million on total revenues of $67.13 million, according to the public documents. It also reported a net loss of $5.57 million on $46.8 million of total revenue for the first six months of the year.

AquaVenture Holdings contains two companies. One is Quench, a U.S.-based provider of filtered water systems and related services to more than 40,000 institutional and commercial customers. The other entity is Seven Seas Water, which develops and operates desalination and wastewater treatment facilities. Seven Seas Water sells seven billion gallons of potable, high purity industrial grade and ultra-pure water each year to governments, municipalities and industrial and hospitality businesses.

 

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