Company: MSEX
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001104659-25-071727
Chunk: 4

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-29
Form: 424B5
Chunk 4
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| · | You                                                                                        
 may have the opportunity to purchase shares of Middlesex Common Stock at a discount to the 
 prevailing market price through the Plan.                                                  |

<div align='center'>S-1

RISK FACTORS</div>

Participating in the Plan
and investing in shares of Middlesex Common Stock involves risks. Before purchasing any shares of Middlesex Common Stock, you should
carefully consider the specific factors discussed below, together with all the other information contained in this prospectus supplement,
the accompanying prospectus, any free writing prospectus prepared by us or on our behalf we may provide to you in connection with this
offering and the documents incorporated and deemed to be incorporated by reference herein and therein. For a further discussion of the
risks, uncertainties and assumptions relating to our business, please see the discussion under the caption “Risk Factors”
included in our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the period ended March 31, 2025, as updated by any other reports and documents we file with the SEC that are incorporated by
reference in this prospectus supplement and the accompanying prospectus. The risks described below are not the only risks that we face.
Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also impair our business operations.
Any of these risks may have a material adverse effect on our business, financial condition, results of operations and cash flows. In
such a case, you may lose all or part of your investment in the shares of Middlesex Common Stock. In addition, you should consult your
own financial, tax and legal advisors before making an investment.

| · | You                                                                                      
 will not know the price for the shares you are purchasing under the Plan at the time you 
 authorize the investment or elect to have your dividends reinvested.                     |

| · | The                                                                                             
 price of shares of Middlesex Common Stock may fluctuate between the time you decide to purchase 
 shares under the Plan and the time of actual purchase. In addition, during this time period,    
 you may become aware of additional information that might affect your investment decision.      |

| · | Shares                                                                                    
 of Middlesex Common Stock deposited in a Plan account may not be pledged until the shares 
 are withdrawn from the Plan.                                                              |

| · | You                                                                                        
 may be treated as having received dividend income on the dividend payment date for United  
 States federal, and applicable