Middlesex Water Stock Investment Plan Announces Purchase Discount

Rhea-AI Summary

Middlesex Water Company (NASDAQ:MSEX) announced a 3% discount on its Common Stock purchases through its Investment Plan, effective September 1, 2021. The discount applies to optional cash payments and dividend reinvestments, available until either 200,000 shares are sold or August 1, 2022. Shares will be priced at 97% of the fair market value as defined in the Plan documents. Proceeds will fund infrastructure projects under the Water For Tomorrow® initiative, aiming to enhance service quality and reliability for users.

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• 3% discount on Common Stock purchases may attract new investors.
• Proceeds from the plan will fund significant capital projects enhancing system reliability.

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• None.

ISELIN, N.J., Aug. 03, 2021 (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 September 1, 2021, and will continue until 200,000 shares are purchased at the discounted price or August 1, 2022, 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 September 6, 2019, if purchased through the Plan. Both the Plan Prospectus and Prospectus Supplement can be viewed here or online at the SEC’s website: www.sec.gov. New investors may enroll in the Plan with an initial investment of at least $500.00.

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 discount is Middlesex Water Company offering on its stock?

Middlesex Water Company is offering a 3% discount on Common Stock purchases through its Investment Plan.

When does the discount period for MSEX stock purchases end?

The discount period for Middlesex Water stock purchases ends either after 200,000 shares are purchased or on August 1, 2022, whichever comes first.

How can investors purchase stock from Middlesex Water Company?

Investors can purchase stock through the Investment Plan with an initial investment of at least $500.

What will the proceeds from the stock purchases be used for?

Proceeds will fund capital projects associated with the Water For Tomorrow® infrastructure investment program.