York Water Prices 1.52M Share Offering at $28.50, Raises $43M
York Water Company priced an underwritten public offering of 1,521,739 shares at $28.50 each, generating about $43 million in gross proceeds. The company granted underwriters a 30-day option on 228,261 additional shares and plans to deploy net proceeds toward its capital investment program, debt repayment and potential acquisitions.
1. Offering Details
York Water Company completed an underwritten public offering of 1,521,739 common shares at $28.50 per share, resulting in approximately $43 million in gross proceeds. Underwriters have a 30-day option to purchase up to 228,261 additional shares at the same price, subject to underwriting discounts and commissions.
2. Use of Proceeds
Net proceeds will fund York Water’s capital investment program, repay outstanding indebtedness and support potential acquisitions, strengthening the company’s balance sheet and growth initiatives.