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YORK, Pa. - The York Water Company (NASDAQ:YORW) announced Monday a proposed public offering of its common stock, according to a press release statement. The timing comes as shares trade at $30.84, hovering near their 52-week low of $29.68, according to InvestingPro data.
The water and wastewater utility services provider said all shares in the offering will be sold by the company. York Water plans to grant underwriters a 30-day option to purchase additional shares. The company, which carries a market capitalization of $446 million and has maintained dividend payments for 53 consecutive years, currently appears overvalued according to InvestingPro analysis. Investors can access the complete Fair Value assessment and 6 additional ProTips on InvestingPro.
The company intends to use net proceeds for general corporate purposes, including its capital investment program, repayment of outstanding debt, and potential acquisitions.
Huntington Securities, Inc. will serve as sole book-running manager for the offering, with Seaport Global Securities acting as co-manager.
The offering is subject to market and other customary closing conditions. The company stated it cannot provide assurance regarding whether or when the offering may be completed.
York Water will conduct the proposed offering under an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3, registration number 333-283488. A preliminary prospectus supplement relating to the offering has been filed with the SEC.
In other recent news, The York Water Company announced the resignation of Ashley M. Grimm, Esq. from her roles as Vice President of Human Resources and Secretary. Her resignation will take effect on May 14, 2026, and the company clarified that it was not due to any disagreements regarding company policies or practices. Additionally, York Water Company reported the retirement of George W. Hodges from its Board of Directors. Mr. Hodges had been a director since June 2000 and served as Chair of the Board during two separate terms. Upon his retirement, he will be honored with the title of Director Emeritus. These developments are part of the company’s recent updates.
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