Acqua Group Takes Steps to Pay Off Debts, Expand

Acqua Group, a Van Nuys producer of bottle-less water coolers, announced that it hopes to raise $3 million through an initial offering of 500,000 units consisting of 1 million shares of common stock and 500,000 warrants to purchase additional shares.

The units are being offered at $6 each, the company said. The offering, if successful, will allow the company to pay off its debts and expand its operations, said Albert A. Parisi, chairman and chief executive officer.