AP News

Casella Waste prices stock offering at $4 apiece


NEW YORK (AP) — Casella Waste Systems Inc. on Friday priced public offering of stock at $4 per share and plans to use proceeds to refinance debt, fund acquisitions and for other general corporate purposes.

The company is offering 10 million shares and granted underwriters a 30-day option to buy up to another 1.5 million shares.

Casella Waste has about 27.4 million shares, according to a recent regulatory filing.

BofA Merrill Lynch and J.P. Morgan are managing the offering, which is expected to close on or about next Wednesday.

The Rutland, Vt., company provides garbage-disposal and recycling services in Northeastern states.

The shares were down 6 cents to close at $4.27. The stock has fallen 33 percent this year.


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