Artesian Resources Corporation Announces Common Stock Offering

About this update from Artesian Resources Corporation

[{"type":"text","content":"NEWARK, Del., May 18, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) (Artesian) announced today a proposed underwritten public offering of approximately 600,000 shares of its Class A Non-Voting Common Stock. The Company also intends to grant the underwriters a 30-day option to purchase from Artesian up to an additional 90,000 shares of Class A Non-Voting Common Stock. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Janney Montgomery Scott LLC is acting as sole book-running manager. Artesian currently intends to use the net proceeds of the offering for general corporate purposes, including its capital investment program and repayment of outstanding indebtedness. The proposed offering is being made pursuant to Artesian’s effective shelf registration statement (including a prospectus) previously filed with the Securities and Exchange Commission (SEC) on September 29, 2022 and declared effective October 12, 2022. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement. A preliminary prospectus supplement relating to the offering has been filed with the SEC. A copy of the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by sending a request to Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia, PA 19103, or by e-mail: [email protected]. Before you invest, you should read the prospectus supplement and accompanying prospectus, the registration statement, and the other documents that Artesian has filed with the SEC for more complete information about Artesian and this offering. Investors may obtain these documents for free by visiting the SEC’s website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Artesian Resources Artesian Resources Corporation operates as the holding company of wholly-owned subsidiari...

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