Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 28

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 28
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 Jersey. Pinelands Wastewater produced approximately 1% of our 2024 consolidated operating revenues.

USA

USA operates the Borough of
Avalon, New Jersey’s (Avalon) water utility, sewer utility and storm water system under a ten-year operations and maintenance contract
expiring in 2032. In addition to performing day-to-day service operations, USA is responsible for emergency responses and management of
capital projects funded by Avalon.

USA operates the Borough of
Highland Park, New Jersey’s water utility and sewer utility under a ten-year operations and maintenance contract expiring in 2030.

Under a marketing agreement
with HomeServe USA Corp. (HomeServe) expiring in 2031, USA offers residential customers in New Jersey and Delaware various water and wastewater
related home maintenance programs. HomeServe is a leading national provider of such home maintenance service programs. USA receives a
service fee for the billing, cash collection and other administrative matters associated with HomeServe’s service contracts.

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USA produced approximately
3% of our 2024 consolidated operating revenues.

White Marsh

White Marsh operates or maintains
water and/or wastewater systems that serve approximately 4,300 service connections under 28 separate contracts, primarily in New Castle,
Kent and Sussex Counties, Delaware. White Marsh also owns two commercial properties that are leased to Tidewater for its administrative
office campus and its field operations center. White Marsh produced approximately 1% of our 2024 consolidated operating revenues.

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<div align='center'>RISK FACTORS</div>

Investing in our securities
involves certain risks. Before making an investment decision, you should carefully consider the risks and uncertainties described in the
documents incorporated by reference in this prospectus and any prospectus supplement, as well as other information we include or incorporate
by reference into this prospectus and any applicable prospectus supplement, including the risks described under the headings “Risk
Factors” in the documents incorporated herein by reference, including in our Annual Report on Form 10-K for the year ended December 31, 2024, in any applicable prospectus supplement and any risk factors set forth in our other filings with the SEC pursuant
to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q
and our Current Reports on Form 8-K. The risks and uncertainties we have described are