York Water Co (YORW) Announces 975K Share Proposed Public Offering of Common Stock
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The York Water Company (“York Water” or the “Company”) (NASDAQ: YORW), a provider of water and wastewater utility services, announced today the pricing of its previously announced underwritten public offering of common stock. York Water priced an offering of 975,600 shares of its common stock at a price to the public of $41 per share. The aggregate gross proceeds from the offering are expected to be approximately $40 million, before deducting the underwriting discounts and commissions payable by York Water. York Water has granted the underwriters a 30-day option to purchase up to 146,340 additional shares of its common stock at the public offering price, less underwriting discounts, and commissions.
York Water intends to use the net proceeds from the offering for general corporate purposes, including our capital investment program, repayment of outstanding indebtedness, and potential acquisitions.
Janney Montgomery Scott is acting as sole book-running manager for the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-3 (Registration No. 333-259809).
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