The company plans to grant the underwriters an option to purchase up to 1.5 million additional shares to cover over-allotments.
Waste Connections plans to use the net proceeds to repay a portion of the outstanding borrowings under its senior revolving credit facility and to use the remaining net proceeds for general corporate purposes, which may include acquisitions.
Folsom, California-based Waste Connections is a solid waste services firm that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S.
The company serves more than 1.5 million residential, commercial and industrial customers from a network of operations in 23 states. It also provides intermodal services for the movement of containers in the Pacific Northwest.
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