The York Water Company (“York Water” or the “Company”) (NASDAQ: YORW), a provider of water and wastewater utility services, announced the closing of its previously-announced public offering of 1,121,940 shares of the Company’s common stock, inclusive of the underwriter’s full exercise of the overallotment option, at a price to the public of $41 per share. The net proceeds to York Water from the offering, after deducting underwriting discounts and commissions and other offering expenses, was approximately $44 million.
York Water intends to use the net proceeds from the offering for general corporate purposes, including its capital investment program, repayment of outstanding indebtedness, and potential acquisitions.
Janney Montgomery Scott acted as sole book-running manager for the offering.
About The York Water Company
The York Water Company is committed to providing its customers with safe, dependable, high-quality water, wastewater, and related services that meet or exceed customer expectations at reasonable rates in an environment encouraging dedicated employees to achieve their highest standard of performance while earning a fair return for its shareholders. The Company operates entirely within its franchised territory, which covers 51 municipalities within York and Adams Counties, Pennsylvania. The Company is regulated by the Pennsylvania Public Utility Commission, or PPUC, in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting.
For more information on The York Water Company, visit www.yorkwater.com.