Investment Banking - York Water Company
Transactions | Infrastructure/Environmental/Water
Client: York Water Company
Transaction Type: Common Stock Offering
Role: Lead Manager
- Founded in 1816 and headquartered in York Pennsylvania, The York Water Company (NASDAQ Global Select Market: YORW) is the oldest investor-owned water utility in the United States .
- York Water provides drinking water to approximately 61,000 customers entirely within its franchised territory located in York County, Pennsylvania and Adams County, Pennsylvania.
- York Water sold 1,070,000 shares in the transaction, including the exercise of an overallotment option.
- The gross proceeds of $14.98 million were used to partially repay outstanding indebtedness under the Company’s revolving line of credit agreements. Obligations under these credit facilities had been primarily incurred to fund acquisitions and construction expenditures.
- Boenning & Scattergood acted as lead book-running manager in the offering.