Primo Water Corporation, which provides three and five gallon bottles of purified water and water dispensers, announced terms for its IPO on Wednesday. The Winston-Salem, NC-based company plans to raise $100 million by offering 8.3 million shares at a price range of $11-$13. At the mid-point of the proposed range, Primo Water Corporation will command a market value of $228 million. Primo Water Corporation, which was founded in 2004 and booked $47 million in sales last year, plans to list on the NASDAQ under the symbol PRMW. The company also expects to issue an additional 3.75 million shares to acquire Culligan Store Solutions in a concurrent private placement. Stifel Nicolaus Weisel and BB&T Capital Markets are the lead underwriters on the deal, for which timing was not disclosed. Primo Water is the sixth company to specify terms for its upcoming IPO so far this week.
