The York Water Company Announces Closing of its Common Stock Public Offering

Rhea-AI Summary

The York Water Company (NASDAQ: YORW) has successfully closed a public offering of 975,600 shares of its common stock at $41 per share, raising approximately $38.2 million net after expenses.

The funds will be used for general corporate purposes, including capital investments, debt repayment, and potential acquisitions. Janney Montgomery Scott serves as the sole book-running manager for this offering, with details available in the filed prospectus supplement.

Positive

• Raised approximately $38.2 million from the offering.
• Funds will support capital investment, debt repayment, and acquisitions.

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• None.

YORK, Pa., April 05, 2022 (GLOBE NEWSWIRE) -- The York Water Company (“York Water” or the “Company”) (NASDAQ: YORW), a provider of water and wastewater utility services, today announced the closing of its previously-announced public offering of 975,600 shares of its common stock at a price to the public of $41 per share. The net proceeds to York Water from the offering, after deducting the underwriting discounts and commissions and other offering expenses, are approximately $38.2 million.

York Water intends to use the net proceeds from the offering for general corporate purposes, including our capital investment program, repayment of outstanding indebtedness, and potential acquisitions.

Janney Montgomery Scott is acting as sole book-running manager for the offering.

The offering was made by means of a prospectus supplement and an accompanying prospectus. A prospectus supplement relating to the offering has been filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or from: Janney Montgomery Scott LLC, Attention: Equity Capital Markets Group, 60 State Street, Boston, MA 02109 or by email at prospectus@janney.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement. More information concerning forward-looking statements can be found in the Company’s SEC filings with the SEC at sec.gov.

FAQ

What was the purpose of the York Water Company stock offering?

The proceeds from the stock offering will be used for general corporate purposes, including capital investment, debt repayment, and potential acquisitions.

When did York Water Company announce the closing of its public offering?

The closing of the public offering was announced on April 5, 2022.

How many shares were offered in the York Water Company public offering?

York Water Company offered 975,600 shares in the public offering.

What was the price per share in the York Water Company stock offering?

The price per share in the stock offering was $41.

Who acted as the book-running manager for the York Water Company offering?

Janney Montgomery Scott was the sole book-running manager for the offering.