Follow-on Offering

Energy
Follow-on Offering

Summary

Baird served as the lead bookrunner on this offering

About

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.

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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Energy
Follow-on Offering
Date
November 2019
Company
Middlesex Water Company
Transaction
M&A
Sectors
Energy
Target Location
North America

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