Middlesex Completes $46 Million Follow-On Offering

Technology & Services

Middlesex follow-on offering


Summary

Middlesex Water Company (“Middlesex” or the “Company”) (NASDAQ-GS:MSEX) recently completed an underwritten public offering of 760,330 shares of its common stock at a price to the public of $60.50 per share. The gross proceeds to Middlesex from the offering were $46.0 million, which included the full exercise of the underwriters’ option to purchase additional 99,173 shares. The transaction was upsized from the previously announced $35.0 million offering. 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 served as the lead bookrunner on this offering.

About

The Company provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiaries. Middlesex is headquartered in Iselin, New Jersey.
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Technology & Services

Middlesex follow-on offering

Date
November 2019
Company
Middlesex Water Company
Transaction
Equity Capital Markets
Sectors
Technology & Services
Verticals
Facility, Industrial, Residential & Environmental Services
Target Geography
North America

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