Item 8.01 Other Events
On January 14, 2022, Artesian Wastewater Management, Inc. ("Artesian
Wastewater"), a wholly-owned subsidiary of Artesian Resources Corporation
("Artesian Resources"), completed its previously announced agreement (the
"Agreement") to acquire Tidewater Environmental Services, Inc. ("TESI"), a
wholly-owned subsidiary of Middlesex Water Company ("Middlesex") that provides
regulated wastewater services in Delaware. Artesian Wastewater purchased all of
the stock of TESI from Middlesex for $6.4 million in cash and other
consideration, including, forgiveness of a $2.1 million intercompany note due
from Middlesex. TESI currently serves approximately 3,600 retail customers in
Sussex County, Delaware. The Delaware Public Service Commission approved this
transaction with TESI on October 27, 2021.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
104 Cover Page Interactive Data File, formatted in Inline XBRL
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses