Global Water Resources, Inc. announced that it has entered into a note purchase agreement for a private placement of 6.91% Senior Secured Non-Convertible Promissory Notes due on January 3, 2034 of aggregate principal amount of $20,000,000 on October 26, 2023. The transaction will include participation from new investor Jackson National Life Insurance Company. The transaction is expected to close on January 3, 2024.

The notes will accrue interest at 6.91% per annum from the date of issuance, payable semi-annually on January 3 and July 3 of each year, beginning on July 3, 2024, with a balloon payment due on January 3, 2034.