08:51 AM EDT, 09/18/2024 (MT Newswires) -- Casella Waste Systems ( CWST ) said Wednesday it priced a public offering of 4.5 million shares of stock at $100.00 per share, for gross proceeds of about $450 million.

Casella said it also granted the underwriters a 30-day option to purchase up to 675,000 additional shares.

The offering is expected to close Thursday.

Casella said it plans to use net proceeds from the offering to finance its acquisition of Royal Carting and Welsh Sanitation, to repay debt, and for general corporate purposes.

Shares of the waste management and disposal company were down about 5% in Wednesday's premarket activity.

Price: 101.25, Change: -5.48, Percent Change: -5.13