Follow-on Offering

Energy
Follow-on Offering

Summary

Baird served as sole book-running manager of this offering.

About

Artesian Resources Corporation (NASDAQ: ARTNA) (“Artesian”) recently completed an overnight follow-on offering of 804,290 shares of the Company’s Class A Non-Voting Common Stock at $18.65 per share, generating gross proceeds of $15.0 million. Artesian plans to use the net proceeds to fund a paid-in capital contribution to its principal subsidiary, Artesian Water Company, Inc. (“Artesian Water”). Artesian Water intends to repay short-term borrowings incurred primarily to finance expenses associated with its construction program and to fund capital expenditures and other general corporate purposes.

Artesian Resources Corporation, headquartered in Newark, DE, is a holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula. Artesian Water, the principal subsidiary, is the oldest and largest investor-owned public water utility on the Delmarva Peninsula, and has been providing water service since 1905. Artesian Water distributes and sells water to residential, commercial, industrial, governmental, municipal and utility customers.

For additional information about this transaction, please contact:

John Lanza (414) 298-7669
Dick Waid (404) 264-2210
Energy
Follow-on Offering
Date
July 2011
Company
Artesian Resources Corporation
Transaction
M&A
Sectors
Energy
Target Location
North America

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