Artesian resources corporation announces closing of public offering of common stock

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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