Energy Recovery, Inc. Prices Initial Public Offering

SAN LEANDRO, Calif.-- Energy Recovery, Inc. (NASDAQ:ERII) announced the pricing of its initial public offering of 14,000,000 shares of its common stock at $8.50 per share. Of these shares, 8,078,566 were sold by ERI and 5,921,434 were sold by selling stockholders. The initial public offering valued the Company at about $400 million. Energy Recovery, Inc., a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry, operates primarily in the sea water reverse osmosis, or SWRO, segment of the industry. Link. Chart.