Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 20

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 20
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 include the number of shares of common stock
sold on such day, the gross sales proceeds and the compensation payable by us to the Agents. We will report at least quarterly the number
of shares of common stock sold through the Agents under the ATM Equity Offering Sales Agreement, the net proceeds to us (before expenses)
and the compensation paid by us to the Agents in connection with the sales of the shares of Common Stock.

We will pay each sales agent a commission of up to 2% of the gross sales price per share of Common Stock sold through such agent under
the ATM Equity Offering Sales Agreement. We have also agreed to reimburse the Agents for certain of their expenses up to $100,000 in the
aggregate. We estimate the total expenses for the offering, excluding any sales agents’ commissions and expense reimbursement payable
to the sales agents under the terms of the ATM Equity Offering Sales Agreement, will be approximately $850,000, including approximately
$600,000 and $200,000 of accounting and legal fees and expenses, respectively.

Settlement of any sales of
Common Stock will occur on the first trading day following the date on which such sales were made. There is no arrangement for funds to
be received in an escrow, trust or similar arrangement. Sales of our Common Stock as contemplated in this prospectus supplement will be
settled through the facilities of The Depository Trust Company or by such other means as we and the Agents may agree.

The offering of our Common
Stock pursuant to the ATM Equity Offering Sales Agreement will terminate upon the earlier of (i) the sale of all of our shares of
Common Stock subject to the ATM Equity Offering Sales Agreement or (ii) termination of the ATM Equity Offering Sales Agreement by
us or by the Agents as provided therein.

<div align='center'>S-15</div>

In connection with the sale
of the shares of Common Stock on our behalf, each of the Agents may be deemed to be an “underwriter” within the meaning of
the Securities Act, and the compensation paid to each of the Agents may be deemed to be underwriting commissions or discounts.

We have agreed to provide
indemnification and contribution to the several Agents against certain liabilities, including civil liabilities under the Securities Act.

The agents and their respective
affiliates are full service financial institutions engaged in various activities, which may include sales and trading, commercial and
investment banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage, vehicle