Middlesex Water Company Announces Discount on Investment Plan Common Stock Purchases

Rhea-AI Summary

Middlesex Water Company (NASDAQ:MSEX) announced a limited-time 3% discount on purchases of its Common Stock through the Company’s Investment Plan, effective March 1, 2023. This offer applies to all shares bought via optional cash payment or dividend reinvestment and will last until either 200,000 shares are purchased at the discounted price or December 1, 2023, whichever comes first. The shares will be priced at 97% of their fair market value during this period. Proceeds from these purchases will fund capital projects, including the Water For Tomorrow® program, aimed at enhancing service quality and infrastructure reliability.

Positive

• 3% discount on stock purchases through the Investment Plan.
• Capital raised will finance important infrastructure projects.
• Discount period boosts investor interest and stock liquidity.

Negative

• None.

ISELIN, N.J., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) today announced a discount on purchases of its Common Stock purchased through the Company’s Investment Plan (the “Plan”) for a limited period of time. Shares will be offered at a 3% discount on all Common Stock purchases made under the Plan whether by optional cash payment or by dividend reinvestment. The discount will be in effect March 1, 2023 and will continue until 200,000 shares are purchased at the discounted price or December 1, 2023 whichever event occurs first.

During this discount period, the purchase price of the shares will be 97% of the fair market value of the shares on the purchase dates, as defined in the Plan Prospectus and Prospectus Supplement dated August 3, 2022, if purchased through the Plan. View discount details, enrollment information, the Plan Prospectus and Prospectus Supplement online at https://shareholder.broadridge.com/middlesexwater/. The Plan Prospectus is also available on the SEC’s website: www.sec.gov. New investors may enroll in the Plan with an initial investment of at least $500.00. Inquiries related to the 3% Discount may be directed to the Plan Agent (Broadridge) at 1-888-211-0641 or by email at shareholder@broadridge.com

Proceeds To Fund Capital Projects
Proceeds raised from Plan participant purchases help fund important capital projects such as those associated with the Company’s Water For Tomorrow® infrastructure investment program to ensure system reliability, resiliency and service quality for current and future generations of water users.

This announcement is not an offer to sell or a solicitation to buy securities, which can be made only by means of the Plan Prospectus.

About Middlesex Water Company
Established in 1897, Middlesex Water Company (NASDAQ:MSEX) serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The Company offers a full range of water, wastewater utility and related services. An investor-owned public utility, Middlesex Water is a professional services provider specializing in municipal and industrial contract operations and water and wastewater system technical operations and maintenance. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of nearly half a million people in New Jersey and Delaware. Middlesex is focused on meeting and balancing the needs of our employees, customers, and shareholders. We invest in our people, our infrastructure and the communities we serve to support reliable and resilient utility services, economic growth and quality of life. 

Contact:
Bernadette Sohler, Vice President – Corporate Affairs
Middlesex Water Company
(732) 638-7549
www.middlesexwater.com

FAQ

What is the discount offered by Middlesex Water on stock purchases?

Middlesex Water is offering a 3% discount on stock purchases through its Investment Plan.

When does the discount on Middlesex Water stock purchases start?

The discount starts on March 1, 2023.

How long will the Middlesex Water stock discount last?

The discount will last until 200,000 shares are purchased at the discounted price or until December 1, 2023.

What will the proceeds from stock purchases fund at Middlesex Water?

Proceeds will fund capital projects, including the Water For Tomorrow® infrastructure investment program.

How can investors participate in the Middlesex Water Investment Plan?

New investors can enroll with an initial investment of at least $500.