Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 19

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 19
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 It is not tax advice. Each prospective investor should consult its own tax advisor regarding the particular U.S. federal, state, local and non-U.S. tax consequences of purchasing, holding and disposing of our Common Stock, including the tax consequences of any change in applicable laws as well as any tax consequences arising under any state, local, or non-U.S. tax laws and any other U.S. federal tax laws.

<div align='center'>S-14

PLAN OF DISTRIBUTION</div>

We have entered into an ATM
Equity Offering Sales Agreement with the Agents under which we may offer and sell from time to time our Common Stock having an
aggregate offering price of up to $110,000,000. The sales agents may act as agents on our behalf or purchase shares of our common stock
as principal.

Sales, if any, of Common Stock
under the ATM Equity Offering Sales Agreement may be made in ordinary brokers’ transactions, to or through a market maker, on or
through the Nasdaq Global Select Market or any other market venue where the securities may be traded, in the over-the-counter market,
in privately negotiated transactions, in block trades, in transactions that are deemed to be “at the market offerings” as
defined in Rule 415 under the Securities Act or through a combination of any such methods of sale. The Agents may also sell our common
stock by any other method permitted by law.

The securities may be sold
at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

We will designate the maximum
amount of common stock to be sold through the Agents on a daily basis or otherwise as we and the Agents agree and the minimum price per
share at which such common stock may be sold. Subject to the terms and conditions of the ATM Equity Offering Sales Agreement, the Agents
will use their reasonable efforts consistent with their normal sales and trading practices to sell on our behalf all of the designated
shares of common stock. We may instruct the Agents not to sell any common stock if the sales cannot be effected at or above the price
designated by us in any such instruction. We or any sales agent, with respect to itself only, may suspend the offering of our common stock
by notifying the other party.

The Agents will provide to
us written confirmation before the open of trading on the Nasdaq Global Select Market on the day following each day on which shares of
common stock are sold under the ATM Equity Offering Sales Agreement. Each confirmation will