WINSTON-SALEM, N.C., May 18, 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 the pricing of an underwritten public offering of 4,643,000 shares of its common stock at a price of $14.00 per share to the public. The offering is expected to close on or about May 22, 2018, subject to the satisfaction of customary closing conditions. Primo has granted the underwriters a 30-day option to purchase 696,450 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 Primo 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.