York Water (NASDAQ: YORW) nets $47.7M from common stock sale
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
The York Water Company closed its previously announced common stock offering, including the underwriters’ full option to buy 228,261 additional shares, bringing the total offering to 1,749,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, shares at $28.50 per share. After underwriting discounts and expenses, York Water received approximately $47.7 million in net proceeds. The company plans to use the funds for general corporate purposes such as its capital investment program, paying down debt, and potential acquisitions.
Positive
- None.
Negative
- None.
Insights
York Water raises $47.7M equity to fund growth, debt paydown, and capex.
The York Water Company completed a common stock offering totaling 1,749,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, shares at $28.50 per share, yielding net proceeds of about $47.7 million, including $6.3 million from the fully exercised underwriters’ option for 228,261 additional shares.
The company intends to allocate proceeds to general corporate purposes, its capital investment program, repayment of outstanding indebtedness, and potential acquisitions. For a regulated water utility, this blend supports ongoing infrastructure needs while modestly deleveraging the balance sheet.
Future disclosures in filings will clarify how much is ultimately directed to capex versus debt reduction and acquisitions. That mix will shape the long-term earnings contribution relative to the near-term dilution from issuing new common shares.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Base shares offered: 1,521,739 shares
Underwriters’ option shares: 228,261 shares
Offering price: $28.50 per share
+2 more
5 metrics
Base shares offered
1,521,739 shares
Previously announced public offering of common stock
Underwriters’ option shares
228,261 shares
Additional shares from underwriters’ fully exercised option
Offering price
$28.50 per share
Price to the public for the common stock offering
Net proceeds from option shares
$6.3 million
Net proceeds from 228,261 additional shares
Total net proceeds
$47.7 million
Net of underwriting discounts, commissions, and expenses
Key Terms
underwriters’ option, prospectus supplement, underwriting discounts and commissions, forward-looking statements, +1 more
5 terms
underwriters’ option financial
"closing of the underwriters’ full exercise of the underwriters’ option to purchase 228,261 additional shares"
An underwriters’ option is a provision in a securities offering that lets the group selling the new shares buy a fixed extra amount (often up to 15%) from the issuer after the sale. It acts like a short-term safety valve: if demand is strong, underwriters exercise the option and supply extra shares; if the price falls, they can use the option to stabilize the market. For investors this matters because it affects how many shares come to market, potential short-term dilution, and post-offering price stability—similar to having a reserve supply to smooth out sudden swings.
prospectus supplement regulatory
"The offering was made by means of a prospectus supplement and an accompanying prospectus."
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
underwriting discounts and commissions financial
"after deducting the underwriting discounts and commissions and other offering expenses, to approximately $47.7 million."
Underwriting discounts and commissions are fees paid to financial institutions that help sell new securities to investors. They act like a commission for their role in connecting companies with buyers, often reducing the amount of money the issuing company raises. For investors, understanding these costs helps gauge how much of their investment is going toward the actual securities versus fees paid to middlemen.
forward-looking statements regulatory
"This news release may contain forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
general corporate purposes financial
"York Water intends to use the net proceeds from the offering for general corporate purposes, including our capital investment program"
"General corporate purposes" refer to the broad range of activities and expenses a company can use its funds for to support its overall operations and growth. This can include things like paying bills, investing in new projects, or strengthening its financial position. For investors, understanding this term helps clarify how a company plans to use its resources to sustain and expand its business over time.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report: April 22, 2026 (April 22, 2026 )
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
|
|
|
|
|
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
|
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Registrant’s telephone number, including area code (717 ) 845-3601
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
|
|
|
|
(Title of Class)
|
(Trading Symbol)
|
(Name of Each Exchange on Which Registered)
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
THE YORK WATER COMPANY
|
Item 8.01.
|
Other Events.
|
On April 22, 2026, The York Water Company (the “Company”) issued a press release announcing the closing of the underwriters’ full exercise of the
underwriters’ option to purchase 228,261 additional shares along with the previously-announced public offering of 1,521,739 shares of the Company’s common stock at a price to the public of $28.50 per share. A copy of this press release is
furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Neither the disclosures in this Current Report on Form 8-K nor the exhibits hereto shall constitute an offer to sell or the solicitation of an offer to
buy the securities described herein and therein, nor shall there be any sale of such 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.
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this Form 8-K and the exhibits hereto constitute “forward-looking statements” within the meaning of Section 21E of the Securities
Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Words such as “may,” “should,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan” and similar expressions are intended to identify forward-looking statements. These
forward-looking statements include certain information relating to the Company’s business strategy and future prospects; including, but not limited to:
• the amount and timing of rate increases and other regulatory matters
including the recovery of costs recorded as regulatory assets;
• expected profitability and results of operations;
• trends;
• goals, priorities and plans for, and cost of, growth and expansion;
• strategic initiatives;
• availability of water supply;
• water usage by customers; and
• the ability to pay dividends on our common stock and the rate of those
dividends.
These forward-looking statements reflect what the Company currently anticipates will happen. What actually happens could differ materially from what it currently
anticipates and you should not place undue reliance upon such statements, which are based only on information currently available to the Company and speak only as of the date hereof. The Company does not intend to make a public announcement when
forward-looking statements are no longer accurate, whether as a result of new information, what actually happens in the future or for any other reason. Important matters that may affect what will actually happen include, but are not limited to:
• changes in weather or climate, including drought conditions or extended
periods of heavy precipitation;
• natural disasters, including pandemics and the effectiveness of the
Company’s response plans;
• levels of rate relief granted;
• the level of commercial and industrial business activity within the
Company’s service territory;
• construction of new housing within the Company’s service territory and
increases in population;
• changes in government policies or regulations, including the tax code,
and the impact of government shutdowns;
• the ability to obtain permits for expansion projects;
• material changes in demand from customers, including the impact of
conservation efforts which may impact the demand of customers for water;
• changes in economic and business conditions, including interest rates;
• loss of customers;
• changes in, or unanticipated, capital requirements, including
requirements relating to compliance with increasing environmental and safety regulations;
• the impact of acquisitions;
• changes in accounting pronouncements;
• changes in the Company’s credit rating or the market price of its common
stock; and
• the ability to obtain financing.
You should also refer to the risk factors and cautionary statements described in other documents that we file from time to time with the Securities and Exchange
Commission (the “SEC”), including in our most recent Annual Report on Form 10-K for the year ended December 31, 2025. The Company’s SEC filings are accessible on the SEC website at www.sec.gov.
| ITEM 9.01. |
FINANCIAL STATEMENTS AND EXHIBITS
|
(d) Exhibits:
|
Exhibit Number
|
Description
|
|
|
99.1
|
Press release dated April 22, 2026.
|
|
|
104
|
Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
THE YORK WATER COMPANY
|
||
|
(Registrant)
|
||
|
By:
|
/s/ Matthew E. Poff
|
|
|
Name:
|
Matthew E. Poff
|
|
|
Title:
|
Chief Financial Officer
|
|
|
Dated: April 22, 2026
|
||
Exhibit 99.1
|
NEWS RELEASE
Contact Information:
JT Hand, President & CEO
jth@yorkwater.com
-OR-
Matthew E. Poff, Chief Financial Officer
matthewp@yorkwater.com
717-845-3601
|
 130 East Market Street
York, PA 17401
|
THE YORK WATER COMPANY ANNOUNCES CLOSING OF ITS
COMMON STOCK PUBLIC OFFERING
York, Pennsylvania, April 22, 2026: The York
Water Company (“York Water” or the “Company”) (NASDAQ: YORW), a provider of water and wastewater utility services, announced today the closing of the underwriters’ full exercise of the underwriters’ option to purchase 228,261 additional shares
along with the previously-announced public offering of 1,521,739 shares of the Company’s common stock at a price to the public of $28.50 per share. The net proceeds to York Water from the purchase of such additional shares was approximately $6.3
million, bringing the total net proceeds from the offering, after deducting the underwriting discounts and commissions and other offering expenses, to approximately $47.7 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.
Huntington Capital Markets is acting as sole book-running manager and Seaport Global Securities is acting as co-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: Huntington Securities, Inc., 41 South High Street, Columbus, OH 43215, or by email at ecm_syndicate@huntington.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. The Company undertakes no duty to update any forward-looking statement. More information concerning forward-looking statements
can be found in the Company’s filings with the SEC at sec.gov.
###
FAQ
What net proceeds did York Water (YORW) receive from its common stock offering?
York Water reports total net proceeds of approximately $47.7 million from the common stock offering. This figure is after deducting underwriting discounts, commissions, and other offering expenses, and includes about $6.3 million of net proceeds from the underwriters’ purchase of 228,261 additional shares.
How does York Water (YORW) plan to use the $47.7 million equity proceeds?
York Water plans to use the net proceeds for general corporate purposes, including its capital investment program, repayment of outstanding indebtedness, and potential acquisitions. This mix supports infrastructure spending, balance sheet management, and possible growth through future acquisition opportunities within its utility footprint.
Who managed The York Water Company (YORW) April 2026 stock offering?
Huntington Capital Markets acted as sole book-running manager for the York Water offering. Seaport Global Securities served as co-manager. The deal was conducted via a prospectus supplement and accompanying prospectus filed with the SEC and available through EDGAR and the underwriters.
What was the public offering price in York Water’s (YORW) April 2026 equity raise?
The York Water Company priced its common stock offering at $28.50 per share. This price applied to both the base 1,521,739 shares and the 228,261 additional shares purchased by underwriters under their fully exercised option, as described in the company’s press release.
Did underwriters exercise their option in the York Water (YORW) stock sale?
Yes. The underwriters fully exercised their option to purchase 228,261 additional York Water common shares. This exercise generated approximately $6.3 million of the total $47.7 million net proceeds reported from the offering after fees and offering-related expenses.