SEC Company Response from ARTESIAN RESOURCES CORP (ARTNA, ARTNB) (CIK 0000863110) (ARTNA) — Sep 29, 2022
ARTESIAN RESOURCES CORP (ARTNA, ARTNB) (CIK 0000863110)
Date: Sept. 29, 2022 · CIK: 0000863110 · Accession: 0000863110-22-000060
AI Filing Summary & Sentiment
File numbers found in text: 333-266821
Referenced dates: August 30, 2022
Letter
VIA EDGAR United States Securities and Exchange Commission Division of Corporation Finance Office of Energy & Transportation Attention: Cheryl Brown Re: Artesian Resources Corporation Registration Statement on Form S-3 (the “Registration Statement”) Filed August 12, 2022 File No. 333-266821
Dear Ms. Brown:
On behalf of Artesian Resources Corporation (the “Company”), we are responding to the comment of the Staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) contained in your letter dated August 30, 2022 to Dian C. Taylor, President and Chief Executive Officer of the Company, with respect to the above referenced filing with the Commission by the Company. For your convenience, we have set forth below the Staff’s comment in italics, followed by the Company’s response.
Registration Statement on Form S-3 filed August 12, 2022
Cover Page
1.
Please revise your cover page to disclose your dual class capital structure consisting of Class A Non-Voting Common Stock and Class B Common Stock. In this regard, clarify that only holders of Class B Common Stock have the right to vote for the election of directors and other stockholder matters, and that holders of Class A Non-Voting Common Stock generally have no voting rights. Please also add related risk factor disclosure.
Response: In response to the Staff’s comment, the Company is filing Amendment No. 1 (“Amendment No. 1”) to the Registration Statement to include disclosure related to its dual class capital structure on the prospectus cover page and to add a related risk factor under “Risk Factors” on page 4 of Amendment No. 1.
The Company respectfully requests the Staff’s assistance in completing the review as soon as possible. Please advise us if we can provide any further information or assistance to facilitate your review. Please direct any further comments or questions to the undersigned at (215) 963-5262.
Very truly yours,
/s/ Joanne R. Soslow
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September 29, 2022
VIA EDGAR
United States Securities and Exchange Commission
Division of Corporation Finance
Office of Energy & Transportation
100 F Street N.E.
Washington, D.C. 20549
Attention: Cheryl Brown
Irene Barberena-Meissner
Re: Artesian Resources Corporation
Registration Statement on Form S-3 (the “Registration Statement”)
Filed August 12, 2022
File No. 333-266821
Dear Ms. Brown:
On behalf of Artesian Resources Corporation (the “Company”), we are responding to the comment of the Staff (the “Staff”) of the Securities
and Exchange Commission (the “Commission”) contained in your letter dated August 30, 2022 to Dian C. Taylor, President and Chief Executive Officer of the Company, with respect to the above referenced filing with the Commission by the Company. For
your convenience, we have set forth below the Staff’s comment in italics, followed by the Company’s response.
Registration Statement on Form S-3 filed August 12, 2022
Cover Page
1.
Please revise your cover page to disclose your dual class capital structure consisting of Class A
Non-Voting Common Stock and Class B Common Stock. In this regard, clarify that only holders of Class B Common Stock have the right to vote for the election of directors and other stockholder matters, and that holders of Class A Non-Voting
Common Stock generally have no voting rights. Please also add related risk factor disclosure.
Response: In response to the Staff’s comment, the Company is filing Amendment No. 1 (“Amendment
No. 1”) to the Registration Statement to include disclosure related to its dual class capital structure on the prospectus cover page and to add a related risk factor under “Risk Factors” on page 4 of Amendment No. 1.
The Company respectfully requests the Staff’s assistance in completing the review as soon as possible. Please advise us if we can
provide any further information or assistance to facilitate your review. Please direct any further comments or questions to the undersigned at (215) 963-5262.
Very truly yours,
/s/ Joanne R. Soslow
Joanne R. Soslow
Morgan, Lewis & Bockius LLP
cc: Dian C. Taylor (Artesian Resources Corporation)
David B. Spacht (Artesian Resources Corporation)
Jennifer L. Finch (Artesian Resources Corporation)