-- York Water (YORW) said Thursday it priced an underwritten public offering of about 1.5 million common shares at $28.50 per share, for estimated gross proceeds of about $43 million.
Underwriters were granted a 30-day option to purchase up to 228,261 additional shares at the public offering price, the company said.
York Water said it plans to use the net proceeds for its capital investment program, repayment of outstanding debt, as well as potential acquisitions.
Shares of the company were down 5.3% in Thursday trading.
Price: $29.22, Change: $-1.62, Percent Change: -5.25%