Company: MSEX
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001104659-25-071727
Chunk: 20

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-29
Form: 424B5
Chunk 20
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 the amount invested for your Plan
account divided by the applicable price per share. Shares purchased directly from the issuer under the Plan will be purchased and credited
to your account at the average of the daily averages of the high and low sales prices of Common Stock as reported on the NASDAQ Global
Select Market for the five (5) days on which the Common Stock was traded immediately preceding and ending on the applicable date
of purchase.

Prices of shares purchased
on the open market will be equal to the average price of all shares purchased on your behalf by the Plan Agent. In making purchases of
shares for a participant’s Plan account on each investment date, the Plan Agent will commingle the participant’s funds with
those of other participants under the Plan. The prices of shares purchased in the open market for participants in the Plan with reinvested
cash dividends will be equal to the average price of all shares purchased for the Plan on such reinvestment date by the Plan Agent. The
Plan Agent shall have no responsibility with respect to the market value of Common Stock acquired under the Plan for participant accounts.
Although the Company generally bears all expenses associated with the Plan, each Plan participant will be responsible for brokerage commissions
and costs associated with the sale of any shares for such participant’s account.

| 23. | Will the Company offer discounts 
 on the price per share?          |

Subject to certain limitations,
the Company may, from time to time, offer shares to Plan participants at a discount from the purchase price described in Question 22.
Discounts exceeding five percent (5%) may require regulatory approval to be obtained by the Company. The following conditions will apply
if and when the Company offers shares at a discount: (i) the Company may limit the number of shares offered at the discounted price;
and (ii) the Company may limit the time period during which the discounted price is in effect (but in no event will the time period
be less than ninety (90) days).

| 24. | How do I purchase additional 
 Common Stock?                |

As a Program participant,
you may purchase additional Common Stock for your account in three ways: by regular monthly electronic deductions, by one-time online
bank debit, and by check.

<div align='center'>S-16</div>

You may authorize automatic
monthly deductions from your bank account by completing and returning an authorization form or you may submit a request online by logging
into your account at .

You may authorize a one-time
online bank debit from your U.S.