WINSTON-SALEM, N.C., May 14, 2018 (GLOBE NEWSWIRE) -- Primo Water Corporation (Nasdaq:PRMW) (“Primo” or “the Company”), the leading provider of multi-gallon purified bottled water, self-service refill water and water dispensers, today announced that it intends to offer and sell, subject to market and other conditions, approximately $65 million of shares of its common stock in a proposed underwritten follow-on public offering. Primo also intends to grant the underwriters a 30-day option to purchase approximately $9.75 million of additional shares of its common stock offered in the public offering. Primo intends to use the net proceeds from the offering to pay down existing indebtedness. Upon completion of the offering, the Company intends to refinance its remaining outstanding senior indebtedness. All of the shares will be offered and sold by Primo. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, and there can be no assurance as to whether or when the Company will be able to refinance its remaining outstanding senior indebtedness.

William Blair & Company, L.L.C., and BMO Capital Markets Corp. are acting as joint book-running managers for the proposed offering. B. Riley FBR, Inc., Northland Securities, Inc., Barrington Research Associates, Inc. and Lake Street Capital Markets, LLC are acting as co-managers for the offering.

About Primo Water Corporation

Primo Water Corporation (Nasdaq:PRMW) (“Primo” or “the Company”) is an environmentally and ethically responsible company with a purpose of inspiring healthier lives through better water. Primo is North America's leading single source provider of water dispensers, multi-gallon purified bottled water, and self-service refill water. Primo's Dispensers, Exchange and Refill products are available in over 45,000 retail locations and online throughout the United States and Canada. For more information and to learn more about Primo Water, please visit our website at www.primowater.com.