Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 11

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 11
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 the sales period, it
is not possible at this stage to predict the number of shares that ultimately will be issued.

<div align='center'>S-6

USE OF PROCEEDS</div>

We may issue and sell shares
of our common stock having aggregate sales proceeds of up to $110,000,000 from time to time. Because there is no minimum offering amount
required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not
determinable at this time.

We intend to use the net proceeds
from the sale of the securities we may offer by this prospectus to fund our capital expenditures, to purchase and maintain plant equipment,
as well as other general corporate purposes. Our management will have broad discretion in the use and allocation of net proceeds from
the sale of any securities sold by us.

<div align='center'>S-7

MARKET INFORMATION</div>

Our common stock is traded on the Nasdaq Global
Select Market under the symbol “MSEX.” We estimate that there were approximately 1,628 holders of record of our common stock
as of April 30, 2025.

<div align='center'>S-8

DIVIDEND POLICY</div>

We have paid dividends on
our common stock each year since 1912 and have increased the amount of dividends paid each year since 1973. Our earnings, financial condition,
capital requirements, applicable regulations and other factors, including the timeliness and adequacy of rate increases, will determine
both our ability to pay dividends and the amount of those dividends. If four or more quarterly dividends are in arrears, the preferred
shareholders, as a class, are entitled to elect two members to the Board of Directors in addition to Directors elected by holders of the
Common Stock. In the event dividends on the preferred stock are in arrears, no dividends may be declared or paid on the Common Stock of
the Company. There can be no assurance we will continue to pay dividends in the future or, if dividends are paid, that they will be in
amounts similar to past dividends.

<div align='center'>S-9

MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES

FOR NON-U.S. HOLDERS</div>

The following is a summary
of the material U.S. federal income tax consequences to non-U.S. holders (as defined below) of the purchase, ownership and disposition
of our