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July 15, 2011 Artesian Resources (ARTNA -4.4%) trades lower after pricing its 800K secondary offering at a 3.3% discount to Thursday's close. The company plans to use the proceeds to fund a paid-in capital contribution to its Artesian Water subsidiary, which will repay its debt.
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Company Description
Artesian Resources Corporation operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater and engineering services on the Delmarva Peninsula. Our principal subsidiary, Artesian Water Company, Inc., is the oldest and largest investor-owned public water utility... More
