Middlesex Water (MSEX) Prices 662.15K Share Common Offering at $60.50/Sh

Middlesex Water Company (NASDAQ: MSEX), a provider of regulated and unregulated water and wastewater utility services, announced today the pricing of its previously announced underwritten public offering of common stock. Middlesex priced an offering of 661,157 shares of its common stock at a price to the public of $60.50 per share. The size of the offering has been increased from the previously-announced $35 million of shares of Middlesex common stock to approximately $40 million of shares of Middlesex common stock. The aggregate gross proceeds from the offering are expected to be approximately $40 million, before deducting the underwriting discounts and commissions payable by Middlesex. Middlesex has granted the underwriters a 30-day option to purchase up to 99,173 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

Middlesex intends to use the net proceeds from the offering for general corporate purposes, including paying down short-term borrowings, completing acquisitions and funding initiatives.

Baird is acting as sole active book-running manager for the offering. Janney Montgomery Scott is acting as joint book-running manager for the offering. Boenning & Scattergood is acting as lead manager for the offering.

You May Also Be Interested In

• Andersen closes secondary offering of 4.9M shares at $44 each
• Applied Optoelectronics sets up $600M at-the-market stock offering
• enVVeno Medical (NVNO) files $100M mixed shelf