SOURCE: Middlesex Water Company

October 09, 2006 09:34 ET

Middlesex Water Announces Proposed Offering of Common Stock

ISELIN, NJ -- (MARKET WIRE) -- October 9, 2006 -- Middlesex Water Company (NASDAQ: MSEX) (the "Company") announced today that it has filed a registration statement with the Securities and Exchange Commission relating to its proposed offering of 1,300,000 shares of common stock. The Company has also granted the underwriters a 30-day over-allotment option to purchase up to an additional 195,000 shares.

The proceeds of the offering will be used to repay in full all of the Company's outstanding short-term borrowings and to partially finance its ongoing construction program.

The managing underwriters for the offering are Janney Montgomery Scott LLC and A.G. Edwards & Sons, Inc. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering can be obtained when available by contacting Janney Montgomery Scott LLC, 60 State Street, 35th Floor, Boston, MA 02109, Attention: Equity Syndicate Department, Tel: (800) 477-9251 or

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Middlesex Water Company, organized in 1897, is an investor-owned water utility and together with its subsidiaries, is engaged in the business of collecting, treating, distributing and selling water for domestic, commercial, industrial and fire protection purposes in New Jersey and Delaware. The Company also provides waste water systems and services in New Jersey and Delaware.

Contact Information

    Bernadette M. Sohler
    Director of Communications
    (732) 634-1500