The York Water Company Announces Proposed Public Offering of Common Stock
April 01 2022 - 9:07AM
The York Water Company (“York Water” or the “Company”) (NASDAQ:
YORW), a provider of water and wastewater utility services,
announced today the pricing of its previously announced
underwritten public offering of common stock. York Water priced an
offering of 975,600 shares of its common stock at a price to the
public of $41 per share. The aggregate gross proceeds from the
offering are expected to be approximately $40 million, before
deducting the underwriting discounts and commissions payable by
York Water. York Water has granted the underwriters a 30-day option
to purchase up to 146,340 additional shares of its common stock at
the public offering price, less underwriting discounts, and
commissions.
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 is being made pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission (the “SEC”) on Form S-3 (Registration No.
333-259809).
The offering may be made only by means of a
prospectus supplement and an accompanying prospectus. A preliminary
prospectus supplement relating to the offering has been filed with
the SEC. Copies of the preliminary 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.
Contact:
JT Hand, President and CEO
jth@yorkwater.com, 717-718-7554
or
Matthew E. Poff, Chief Financial Officer
matthewp@yorkwater.com, 717-718-7549
Phone:
717-845-3601
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