---
schema_version: "secwatch.filing_event.v1"
accession: "0000863110-23-000024"
form_type: "8-K"
ticker: "ARTNA"
cik: "0000863110"
company_name: "ARTESIAN RESOURCES CORP"
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:41:14.108658+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Artesian Resources closes public offering of 695,650 shares at $50, netting $33M

## Summary
- Sold 695,650 shares of Class A Non-Voting Common Stock at $50.00 per share.
- Net proceeds of approximately $33.0 million after underwriting discounts and expenses.
- Underwriter Janney Montgomery Scott has 30-day option for up to 104,348 additional shares.
- Proceeds to be used for capital investment program and repayment of outstanding indebtedness.
- Offering closed on May 23, 2023; shares trade on Nasdaq under ARTNA.

## SEC filing metadata
- accession: 0000863110-23-000024
- form_type: 8-K
- ticker: ARTNA
- cik: 0000863110
- company_name: ARTESIAN RESOURCES CORP
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/863110/000086311023000024/0000863110-23-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/863110/000086311023000024/8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000863110-23-000024
- JSON: https://secwatch.observer/filing/0000863110-23-000024.json
- Plain text: https://secwatch.observer/filing/0000863110-23-000024.txt

## Key facts
- Material Agreements
  ARTESIAN RESOURCES CORP entered into Underwriting Agreement with Janney Montgomery Scott LLC (effective 2023-05-19).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Janney Montgomery Scott LLC
  - Effective: 2023-05-19
  source text: On May 19, 2023, Artesian Resources Corporation (the “Company”) entered into an Underwriting Agreement, dated as of May 19, 2023 (the “Underwriting Agreement”), with Janney Montgomery Scott LLC (the “Underwriter”) in connection with the issuance and sale of 695,650 shares of the Company’s Class A Non-Voting Common Stock, par value $1.00 per share (the “Class A Common Stock”) at a price to the public of $50 per share (the “Firm Shares”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/863110/000086311023000024/0000863110-23-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.