Company: MSEX
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047381
Chunk: 13

Company: MIDDLESEX WATER CO
Filing Date: 2025-05-12
Form: 424B5
Chunk 13
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 corporations,” “passive foreign investment companies,” foreign  
 branches or corporations that accumulate earnings to avoid U.S. federal income tax; |

| · | brokers, dealers, and traders in securities or currencies; |

| · | traders in securities and other persons that elect to use a mark-to-market method of accounting for their 
 securities holdings;                                                                                      |

| · | persons that own, have owned, or are deemed to own, more than 5% of our Common Stock; |

| · | certain former citizens or long-term residents of the United States; |

| · | partnerships or other entities or arrangements treated as partnerships, and other pass-through entities 
 or disregarded entities for U.S. federal tax purposes (and investors therein);                          |

| · | persons who hold our Common Stock as a position in a hedging transaction, “straddle,” “conversion 
 transaction” or other risk reduction transaction or integrated investment;                        |

| · | persons who do not hold our Common Stock as a capital asset within the meaning of Section 1221 of 
 the Code (generally, for investment purposes);                                                    |

<div align='center'>S-10</div>

| · | persons who acquire our common stock through the exercise of an employee option or otherwise as compensation; |

| · | persons deemed to sell our Common Stock under the constructive sale provisions of the Code; or |

| · | persons required under Section 451(b) of the Code to conform the timing of income accruals with 
 respect to our Common Stock to their financial statements.                                      |

In addition, if a partnership,
including any entity or arrangement, domestic or foreign, classified as a partnership for U.S. federal income tax purposes, holds our
Common Stock, the tax treatment of a partner in the partnership generally will depend on the status of the partner and the activities
of the partnership. Accordingly, partnerships that hold our Common Stock, and partners in such partnerships, should consult their own
tax advisors about the particular U.S. federal income tax consequences to them of purchasing, holding and disposing of our Common Stock.

You are urged to consult your own tax advisor with respect to the application of the U.S. federal income tax laws to your particular situation, as well as any tax consequences of the purchase, ownership and disposition of our Common Stock arising under the U.S. federal estate or gift tax rules, under the laws of any state of the United States or any local, non-U.S. or other taxing jurisdiction, or under any applicable tax treaty.