York Water Raises $47.7M in Public Offering of 1.75M Shares at $28.50
The York Water Company closed its public offering by selling 1,750,000 shares, including 228,261 oversubscribed shares, at $28.50 per share. Net proceeds of approximately $47.7 million will fund capital investments, repay outstanding debt and support potential acquisitions.
1. Offering Details
The York Water Company completed its public offering on April 22, 2026, selling a total of 1,750,000 common shares at $28.50 per share. The offering included the full exercise of a 228,261-share over-allotment option, generating total net proceeds of approximately $47.7 million after expenses.
2. Use of Proceeds
York Water plans to allocate the proceeds to general corporate purposes, prioritizing its capital investment program to maintain and upgrade water and wastewater infrastructure. Remaining funds will go towards repaying outstanding indebtedness and exploring potential strategic acquisitions to expand service operations.
3. Underwriting and Closing
Huntington Capital Markets served as sole book-running manager with Seaport Global Securities as co-manager for the offering. The transaction closed with full underwriter participation, reflecting strong investor demand for the utility’s shares.