Company: MSEX
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001104659-25-071727
Chunk: 36

Company: MIDDLESEX WATER CO
Filing Date: 2025-07-29
Form: 424B5
Chunk 36
---
 commenced because the U.S. participant failed
to report properly distributions paid to him, her or it; or (4) when required to do so, the U.S. participant fails to certify, under
penalties of perjury, that the U.S. participant is not subject to backup withholding.

Backup withholding amounts
will be withheld from dividends before those dividends are reinvested under the Plan. Therefore, dividends to be reinvested under the
Plan by U.S. participants subject to backup withholding will be reduced by the backup withholding amount. Backup withholding is not an
additional tax. Rather, a U.S. participant generally may obtain a credit for any amount withheld against its liability for U.S. federal
income tax (and obtain a refund of any amounts withheld in excess of such liability) by accurately completing and timely filing a U.S.
federal income tax return with the Internal Revenue Service. We intend to take the position that administrative expenses of the Plan
paid by us are not constructive distributions to U.S. participants.

<div align='center'>USE OF PROCEEDS</div>

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 provide capital for our
growth strategy and to purchase and maintain plant equipment, as well as for working capital and 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'>DESCRIPTION OF OUR CAPITAL STOCK</div>

As of July 28, 2025,
our authorized capital stock consists of 40,000,000 shares of Common Stock no par value, 120,357 shares of Preferred Stock, no par value;
and 100,000 shares of Preference Stock, no par value. As of July 28, 2025, 18,016,640 shares of Common Stock, 13,391 shares of Preferred
Stock and no shares of the Preference Stock were outstanding.

As of July 28, 2025,
the 13,391 shares of Preferred Stock outstanding consisted of the following: (i) 784 shares of $7 Series Cumulative Preferred
Stock, (ii) 10,000 shares of $4.75 Series Cumulative Preferred Stock, and (iii) 2,607 shares of $7 Cumulative and Convertible
Preferred Stock.

<div align='center'>PLAN OF DISTRIBUTION</div>

Subject to the discussion