Artesian Resources Corporation Announces Closing of Public Offering of Common Stock

May 23, 2023

NEWARK, Del., May 23, 2023 (GLOBE NEWSWIRE) -- Artesian Resources Corporation (Nasdaq: ARTNA) (Artesian or the Company) announced today the closing of its previously-announced underwritten public offering of 695,650 shares of the Company’s Class A Non-Voting Common Stock at a purchase price of $50.00 per share. The net proceeds to the Company from the offering, after deducting the underwriting discounts and commissions and other offering expenses, are approximately $33.0 million. The Company has also granted the underwriter a 30-day option to purchase from Artesian up to an additional 104,348 shares of Class A Non-Voting Common Stock at the public offering price, less the underwriting discount.

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