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The York Water Company Announces the Closing of the Full Exercise of the Underwriter’s Option to Purchase Additional Shares Under its Common Stock Public OfferingApr 7th, 2022 10:10 EST
YORK, Pa., April 07, 2022 (GLOBE NEWSWIRE) — The York Water Company (“York Water” or the “Company”) (NASDAQ: YORW), a provider of water and wastewater utility services, today announced the closing of the underwriter’s full exercise of the underwriter’s option to purchase 146,340 additional shares along with the previously-announced public offering of 975,600 shares of the Company’s common stock at a price to the public of $41 per share. The net proceeds to York Water from the purchase of such additional shares was approximately $5.8 million, bringing the total net proceeds from the offering, after deducting the underwriting discounts and commissions and other offering expenses, to approximately $44 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.
Janney Montgomery Scott is acting as sole book-running 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: Janney Montgomery Scott LLC, Attention: Equity Capital Markets Group, 60 State Street, Boston, MA 02109 or by email at [email protected]
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|
|[email protected], 717-718-7554|
|or||Matthew E. Poff, Chief Financial Officer|
|[email protected], 717-718-7549|