sv3asr
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filed with the Securities and Exchange Commission on August 8, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-3
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
AQUA AMERICA, INC.
(Exact name of registrant as specified in its charter)
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Pennsylvania
(State or other jurisdiction of incorporation or organization)
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23-1702594
(I.R.S. Employer Identification No.) |
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(610) 527-8000
(Address, including zip code, and telephone number, including area
code, of registrants principal executive offices)
_____________________
Roy H. Stahl
Aqua America, Inc.
Chief Administrative Officer, General Counsel and Corporate Secretary
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(610) 527-8000
(Name, address, including zip code and telephone number, including area code, of agent for service)
Copy of all communications to:
Stephen A. Jannetta
Brian C. Miner
Morgan, Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103-2921
(215) 963-5000
Approximate date of commencement of proposed sale to the public: From time to time after the
effective date of this registration statement.
If the only securities being registered on this Form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. o
If any of the securities being registered on this Form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities
offered only in connection with dividend or interest reinvestment plans, check the following box.
þ
If this Form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same
offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities
Act, check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. o
If this Form is a registration statement pursuant to General Instruction I.D. or a
post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. þ
If this Form is a post-effective amendment to a registration statement filed pursuant to
General Instruction I.D. filed to register additional securities or additional classes of
securities pursuant to Rule 413(b) under the Securities Act, check the following box. o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,
a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in
Rule 12b-2 of the Exchange Act. (Check one):
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Large accelerated filer þ
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Accelerated filer o
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Non-accelerated filer o
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Smaller reporting company o |
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(Do not check if a smaller reporting company) |
CALCULATION OF REGISTRATION FEE
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Proposed Maximum |
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Proposed Maximum |
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Title of Each Class of |
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Amount |
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Offering Price |
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Aggregate |
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Amount Of |
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Securities To Be Registered |
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to be Registered (1) |
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Per Share (2) |
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Offering Price (2) |
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Registration Fee |
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Common Stock,
par value $0.50 per share |
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5,000,000 shares |
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$ |
15.76 |
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$ |
78,800,000 |
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$ |
3,097 |
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(1) |
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Pursuant to Rule 416 under the Securities Act of 1933, the number of shares being
registered shall be adjusted to include any additional shares that may become issuable as a result
of stock splits, stock dividends, or similar transactions. |
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(2) |
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Pursuant to Rule 457(c) under the Securities Act of 1933, the offering price is computed on the
basis of the average of the high and low prices of the Common Stock of Aqua America, Inc., as
reported on the New York Stock Exchange composite transaction listing on August 4, 2008. |
PROSPECTUS
Aqua America, Inc. Dividend Reinvestment and Direct Stock Purchase Plan
5,000,000 Shares of Common Stock
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You do not need to be one of our existing shareholders to participate in the Plan. |
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The Plan gives you a convenient, systematic way to purchase our common stock. |
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You can increase your ownership by reinvesting dividends at a 5% discount and by making optional cash investments with
brokerage fees and commissions paid by us. |
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You can own and transfer shares without holding certificates. |
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You can purchase shares through an IRA with a portion of the annual maintenance fee paid by us. |
IMPORTANT NOTE: Sales of shares through the Plan are subject to fees and commission charges for
which you will be responsible. Please see the Costs section of this prospectus for further
details regarding these fees and commission charges.
Our common stock is listed on the New York Stock Exchange and the Philadelphia Stock Exchange
under the symbol WTR. Our principal executive office is located at 762 W. Lancaster Avenue,
Bryn Mawr, Pennsylvania 19010-3489 and our telephone number is 610-527-8000.
Investing in our common stock involves risk. See Risk Factors on page 1 for certain risks to
consider before participating in the Plan or purchasing shares of our common stock.
Neither the Securities and Exchange Commission nor any state securities commission has approved
or disapproved these securities or determined if this prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.
The
date of this prospectus is August 8, 2008.
TABLE OF CONTENTS
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As used in this prospectus, the words we, us, our, and Aqua America refer to Aqua America,
Inc. and its subsidiaries unless otherwise indicated or the context otherwise requires.
Plan Overview
The Aqua America, Inc. Dividend Reinvestment and Direct Stock Purchase Plan (the Plan) provides
you with a convenient and economical way to purchase shares of our common stock and to reinvest
your cash dividends in additional shares. The Plan has various features and you can select those
features that meet your investment needs.
The Plan is designed for long-term investors who wish to invest and build their share ownership
over time. Unlike an individual stock brokerage account, the timing of purchases and sales is
subject to the provisions of the Plan.
Please read this prospectus and the documents incorporated by reference herein carefully. If you
are a shareholder of record of at least 5 shares of Aqua America common stock, and wish to
participate in the Plan, please sign and execute a Dividend Reinvestment and Direct Stock Purchase
Plan Enrollment Form (the Enrollment Form). If your shares of Aqua America common stock are
registered in a nominee name (such as in the name of a bank, broker or other nominee), please see
the Participation and Enrollment section below for instructions on how to have such shares
participate in the Plan. Investors wishing to make an initial investment of not less than $500
should complete the Dividend Reinvestment and Direct Stock Purchase Plan Initial Enrollment Form
(the Initial Enrollment Form). Either form, when completed, should be mailed to Computershare
Trust Company, N.A. (the Administrator).
You can also enroll in the Plan and access your Plan account through the Internet at the
Administrators web site, www.computershare.com/investor, at any time. In addition, you can
authorize one-time initial and subsequent optional cash investments or establish recurring
automatic withdrawals from your U.S. bank account.
Risk Factors
Investing in our common stock involves risks. Please see the risk factors described in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2007, filed with the Securities and
Exchange Commission (the SEC), which are all incorporated by reference in this prospectus.
Before making an investment decision, you should carefully consider these risks as well as other
information contained or incorporated by reference in this prospectus.
Forward-Looking Statements
Certain statements in this prospectus, or incorporated by reference into this prospectus, are
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and are made based upon, among other things, our
current assumptions, expectations and beliefs concerning future developments and their potential
effect on us. These forward-looking statements involve risks, uncertainties and other factors, many
of which are outside our control, that may cause our actual results, performance or achievements to
be materially different from any future results, performance or achievements expressed or implied
by these forward-looking statements. In some cases you can identify forward-looking statements
where statements are preceded by, followed by, or include the words in the future,
believes, expects, anticipates, plans or similar expressions, or the negative
thereof. Forward-looking statements in this prospectus, or incorporated by reference into this
prospectus, include, but are not limited to, statements regarding:
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the availability of Internet access to the Administrators web site; |
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projected capital expenditures and related funding requirements; |
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dividend payment projections; |
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opportunities for future acquisitions, the success of pending acquisitions and the impact
of future acquisitions; |
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the capacity of our water supplies, water facilities and wastewater facilities; |
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general economic conditions; |
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acquisition-related costs and synergies; |
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the impact of geographic diversity on our exposure to unusual weather; |
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developments, trends and consolidation in the water and wastewater utility industries; |
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our capability to pursue timely rate increase requests; |
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our authority to carry on our business without unduly burdensome restrictions; |
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our ability to obtain fair market value for condemned assets; |
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the impact of fines and penalties; |
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the development of new services and technologies by us or our competitors; |
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the availability of qualified personnel; |
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the condition of our assets; and |
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the impact of legal proceedings. |
Because forward-looking statements involve risks and uncertainties, there are important factors
that could cause actual results to differ materially from those expressed or implied by these
forward-looking statements, including but not limited to:
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changes in general economic, business and financial market conditions;
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changes in government regulations and policies, including environmental and public utility
regulations and policies; |
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changes in environmental conditions, including those that result in water use restrictions; |
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abnormal weather conditions; |
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changes in capital requirements; |
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changes in our credit rating; |
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our ability to integrate businesses, technologies or services which we may acquire; |
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our ability to manage the expansion of our business; |
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the extent to which we are able to develop and market new and improved services; |
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the effect of the loss of major customers; |
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our ability to retain the services of key personnel and to hire qualified personnel as we
expand;
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unanticipated capital requirements; |
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increasing difficulties in obtaining insurance and increased cost of insurance; |
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cost overruns relating to improvements or the expansion of our operations; and |
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civil disturbance or terroristic threats or acts. |
Given these uncertainties, you should not place undue reliance on these forward-looking statements.
You should read this prospectus and the documents that we incorporate by reference into this
prospectus completely and with the understanding that our actual future results may be materially
different from what we expect. These forward-looking statements represent our estimates and
assumptions only as of the date of this prospectus. Except for our ongoing obligations to disclose
material information under the federal securities laws, we are not obligated to update these
forward-looking statements, even though our situation may change in the future. We qualify all of
our forward-looking statements by these cautionary statements. As you read this prospectus and the
documents that we incorporate by reference into this prospectus, you should pay particular
attention to the Risk Factors included in our most recent Annual Report on Form 10-K and in any
filing we make with the SEC after the date of such Annual Report on Form 10-K that is incorporated
by reference into this prospectus.
A Summary of Important Plan Features
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Participation. You may participate in the Plan if you own at least 5 shares of Aqua America common stock
that are registered in your name. You may also participate by making an initial minimum investment of at
least $500 through automatic withdrawal from your U.S. bank account, by check or by a one-time online bank
debit through the Administrators web site, www.computershare.com/investor. All U.S. citizens are eligible
to join the Plan, whether or not they are currently shareholders. Foreign citizens are eligible to
participate as long as their participation would not violate any laws in their home countries or other
non-U.S. laws. If your shares of Aqua America common stock are registered in a nominee name (such as in
the name of a bank, broker or other nominee), please see the Participation and Enrollment section below
for instructions on how to have such shares participate in the Plan. |
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Automatic Dividend Reinvestment. You can reinvest all or a portion of the cash dividends received on your
first 100,000 shares toward the purchase of additional shares of our common stock, without paying trading
fees or commissions. For purposes of the Plan, the term full dividend reinvestment means the
reinvestment of dividends on all shares held by you in your name under the Plan up to a maximum of 100,000
shares. |
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Electronic Deposit of Cash Dividends. You can authorize the Administrator to deposit your cash dividends
directly into your U.S. bank account. |
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Optional Cash Investments. As a shareholder, you can buy additional shares of our common stock at any time
for as little as $50. The maximum optional cash investment you may make in any calendar year is $250,000.
You can pay by check or by a one-time online bank debit through the Administrators web site,
www.computershare.com/investor, or have your payment automatically withdrawn from your U.S. bank account. |
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IRAs. You may establish a traditional IRA, a Roth IRA or a Coverdell Education
Savings Account which invests in common stock through the Plan. IRA
contributions and rollovers do not count against a participants $250,000
annual investment limitation. There is an |
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annual maintenance fee of $45.00
charged by the IRA and Coverdell Education Saving Account Trustee, which we
will pay for the first calendar year in which you participate. In all subsequent
years, twenty-five dollars ($25.00) of this annual fee will be charged to you,
with the balance paid by us. |
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Full Investment. Full investment of your funds is
possible because any initial investment and optional
cash investments will be used to buy whole and
fractional shares. In addition, the full dividend
earned on your shares (up to the first 100,000 shares
you own), including fractional shares, will be
reinvested or paid out as you designate. |
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Safekeeping of Certificates. Shares purchased through
the Plan for which you request certificates to be
issued will be held by the Administrator for
safekeeping. You may also deposit any Aqua America,
or previously named Philadelphia Suburban
Corporation, stock certificates that you hold for
safekeeping, at no charge. |
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Transaction Reporting. You will receive a statement following each transaction showing the
details of, and your share balance in, your Plan account. |
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Internet Account Access. You can also enroll in the Plan and access your Plan
account through the Internet at the Administrators web site,
www.computershare.com/investor, at any time. In addition, you can authorize
one-time initial and subsequent optional cash investments or establish recurring
automatic withdrawals from your U.S. bank account. |
Administration
Computershare Trust Company, N.A., administers the Plan and acts as Agent for the participants.
Computershare, Inc. acts as service agent to Computershare Trust Company, N.A. in performing
certain services for the Plan. These companies purchase and retain shares of our common stock for
Plan participants, keep records, send statements and perform other duties required by the Plan.
For information about the Plan, you can contact the Administrator by calling toll-free:
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Computershare Trust Company, N.A.
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800-205-8314 |
Outside the United States call collect:
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781-575-3100 |
Web site address:
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www.computershare.com/investor |
All written correspondence and optional cash investments submitted without a proper
investment coupon, should be submitted to:
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By mail: |
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Computershare Trust Company, N.A. |
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Attn.: Aqua America, Inc. Dividend Reinvestment |
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and Direct Stock Purchase Plan |
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P.O. Box 43078 |
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Providence, RI 02940-3078 |
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By courier: |
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Computershare Trust Company, N.A. |
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Attn.: Aqua America, Inc. Dividend Reinvestment |
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and Direct Stock Purchase Plan |
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Mail Stop 1A |
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250 Royall Street
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Canton, MA 02021 |
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Make checks payable to Computershare-Aqua America in U.S. dollars and drawn on a U.S. bank.
The Administrator will not accept cash, travelers checks, money orders or third party checks
for optional cash investments. Please use the cash investment form at the bottom of your
statement.
Internet Access
You can also obtain information about your account via the Internet at the Administrators web
site, www.computershare.com/investor. At the web site, through account access, you can
access your share balance, enroll in the Plan, purchase shares (either as a one-time online bank
debit or by recurring automatic monthly withdrawals from your U.S. bank account), sell shares,
request a stock certificate, change dividend payment options and obtain online forms. To obtain
access, click Register Now, fill in the required information, accept the Terms & Conditions and
select a User ID and password. You can request a new password on-line or by calling the
Administrator at 1-800-205-8314.
Participation and Enrollment
If you already own at least 5 shares of our common stock, you are eligible to participate in the Plan.
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If your shares are registered in your name, you can enroll in the Plan
through the Internet at the Administrators web site,
www.computershare.com/investor, or you can fill out the Enrollment Form and
return it to the Administrator. |
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If your shares are registered in a nominee name but you wish to participate
in the Plan you should instruct your bank, broker or other nominee to have
some or all of your shares registered in your name. Simply instruct your
bank, broker or other nominee to transfer at least 5 of your shares of our
common stock electronically through the Direct Registration System from
your brokerage account to a new book-entry account at the Administrator.
Please contact your bank, broker or other nominee for more information.
Once at least 5 of your shares of our common stock are moved from your
brokerage account to a new book-entry account registered in your name with
the Administrator, you may then participate in the Plan by enrolling in the
Plan as set forth above. Alternatively, you may instruct your bank, broker
or other nominee to arrange to have a paper stock certificate issued to you
for at least 5 of your shares of our common stock. Once at least 5 shares
are registered in your name, you may participate in the Plan by enrolling
in the Plan as set forth above. If the shares that you hold are in
certificated form, you can deposit these certificated shares in your Plan
account for safekeeping. In each instance, any fees or charges assessed by
your bank or broker are your responsibility and will not be paid by us. |
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If your shares are held through our retirement plans or any of our other
employee benefit plans (each, an employee benefit plan) that participate
in the Plan, your participation in the Plan will be through the
administrator or trustee of the applicable employee benefit plan and you
will be limited to the automatic dividend reinvestment feature of the Plan
only. Please contact the administrator or trustee of the employee benefit
plan to determine if the plan participates in the Plan. Your participation
in the Plan will be subject to the terms and conditions of the applicable
employee benefit plan and the administrator or trustee of such plan. |
If you do not own any shares of our common stock, or if you wish to establish a separate account,
you can go to the Administrators web site, www.computershare.com/investor, and follow the
instructions provided. You may enroll in the Plan by authorizing a one-time online bank debit from
your U.S. bank account for an initial
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investment of at least $500 or by establishing recurring
automatic withdrawals from your U.S. bank account for a minimum of $50 per transaction for at
least ten consecutive months. Automatic withdrawal is further described in the Optional Cash
Investments section of this prospectus. You can also fill out the Initial Enrollment Form and
return it to the Administrator. Enclose a check, in U.S. dollars, for at least $500. You can
receive an Initial Enrollment Form by contacting the Administrator through the channels outlined
in the Administration section of this prospectus. If you wish to make your initial investment
through automatic withdrawals, you must agree to continue with the withdrawals until the $500
minimum initial investment is reached. Please note, such automatic withdrawals continue
indefinitely beyond the initial investment until you notify the Administrator through the Internet,
by telephone or in writing to stop such automatic withdrawals.
If you open an account for another person by transferring stock from your account, you must
transfer a minimum of 5 shares into that account.
Dividend Reinvestment
You may choose to reinvest all or a portion of the dividends paid on your first 100,000 shares of
our common stock held in your Plan account or participating in the Plan through our employee
benefit plans. Your dividends will be used to buy additional shares of our common stock at a 5%
discount from the prevailing market price. You have the following options for your dividends:
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Full Dividend Reinvestment. Your cash dividends received on shares you
own up to 100,000 shares will be used to buy additional shares for
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Partial Dividends Paid in Cash. If you do not want full dividend
reinvestment, select a lower number of full shares on which you want
your dividends to be paid in cash. The balance of your dividends will
be reinvested. |
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All Dividends Paid in Cash (no dividend reinvestment). Your dividends
on all of your shares will be paid in cash. |
If you do not indicate which reinvestment option you want on the enrollment form, you will
be automatically enrolled in full dividend reinvestment.
You may change your reinvestment option at any time by completing and returning a new Enrollment
Form (which can be obtained by contacting the Administrator), by accessing your Plan account
through the Internet at the Administrators web site, www.computershare.com/investor, by
calling the Administrator at 1-800-205-8314 or by providing written instructions to the
Administrator. Dividends will be reinvested or paid on cash in accordance with your most recent
instructions received by the Administrator prior to the dividend record date applicable to such
dividend.
The 100,000 share reinvestment limitation does not apply to our employee benefit plans.
Electronic Deposit of Cash Dividends
If you are receiving all or a portion of your dividends in cash, you may have them electronically
deposited into your U.S. bank account by completing an Authorization for Electronic Direct Deposit Form or
by mailing a voided check or deposit slip to the Administrator. Contact the Administrator to
receive an Authorization for Electronic Direct Deposit Form. This feature may be changed or
discontinued at any time by notifying the Administrator. If you change your U.S. bank account and
fail to notify the Administrator of
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the change, a check for your dividends will be issued and
mailed only after the funds have been returned from the receiving bank.
Optional Cash Investments
Participants in the Plan may buy additional shares of our common stock at any time by
investing at least $50. Your total optional cash investment may not exceed $250,000 in a
calendar year. Interest will not be paid on amounts held pending investment. Optional cash
investments may be made:
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By one-time online bank debit. At any time, you may make optional cash
investments by going to the Administrators web site,
www.computershare.com/investor, and authorizing a one-time online bank
debit from your U.S. bank account. One-time online optional cash
investment funds will be held by the Administrator for three banking
business days before they are invested. Please refer to the online
confirmation for your bank account debit date and investment date. In
the event that a one-time online bank debit is not honored for any
reason, the Administrator will consider the request for the investment
of that money null and void and shall immediately remove from the
participants account the shares, if any, purchased upon the prior
credit of such money. A fee of $25 will also be assessed against the
participants account. The Administrator will then be entitled to sell
those shares to satisfy the balance of such uncollected amounts. If
the net proceeds of the sale of those shares are insufficient to
satisfy the balance of such uncollected amounts, the Administrator
will be entitled to sell additional shares from the participants
account to satisfy the uncollected balance. |
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By check. Mail your check with the cash investment form from the
bottom of your account statement to the address on the cash investment
form. Do not send cash, travelers checks, money orders or third party
checks. All checks should be in U.S. funds and drawn from a U.S. bank.
All payments should be made payable to Computershare-Aqua America.
In the event that a check is returned unpaid for any reason to the
Administrator by the bank on which it is drawn, the Administrator will
consider the request for investment of that money null and void and
shall immediately remove from the participants account the shares, if
any, purchased upon the prior credit of such money. A fee of $25 will
also be assessed against the participants account. The Administrator
will then be entitled to sell those shares to satisfy any uncollected
balance. If the net proceeds of the sale of those shares are
insufficient to satisfy the balance of such uncollected amounts, the
Administrator will be entitled to sell additional shares from the
participants account to satisfy the uncollected balance. |
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By recurring automatic withdrawals from a U.S. bank account. You can
establish recurring automatic withdrawals through the Internet at the
Administrators web site, www.computershare.com/investor, or by filling
out a Direct Debit Authorization Form for automatic withdrawals. You
can receive a Direct Debit Authorization Form by contacting the
Administrator through the channels outlined in the Administration
section of this prospectus. All automatic withdrawal enrollment
information must be received at least 30 days prior to the first debit
date. Funds will be deducted from your bank account on the first
business day of each month. If this date falls on a bank holiday, or non-business
day, funds may be deducted on the next business day. These funds may be commingled
with other optional cash investments. All funds automatically withdrawn from your
bank account will be invested on the second Tuesday, or next following business
day, of the month. Automatic withdrawals will continue at the level you set until
you instruct the Administrator otherwise.
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7
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You can change or stop automatic
withdrawals by accessing your Plan account through the Internet at the
Administrators web site, www.computershare.com/investor, by calling the
Administrator at 1-800-205-8314, by completing and returning a new Direct Debit
Authorization Form or by giving written instructions to the Administrator. You must
contact the Administrator at least 7 business days prior to the debit date to
change or terminate automatic withdrawal. In the event that an automatic withdrawal
is not honored for any reason, the Administrator will consider the request for
investment of that money null and void and shall immediately remove from the
participants account the shares, if any, purchased upon the prior credit of such
money. A fee of $25 will also be assessed against the participants account. The
Administrator will then be entitled to sell those shares to satisfy any uncollected
balance. If the net proceeds of the sale of those shares are insufficient to
satisfy the balance of such uncollected amounts, the Administrator will be entitled
to sell additional shares from the participants account to satisfy the uncollected
balance. |
Purchase and Source of Shares
Shares of our common stock needed to meet the requirements of the Plan will either be purchased in
the open market or issued directly by us. We will pay transaction fees and per share fees (which
will include any brokerage commissions the Administrator is required to pay) incurred for the
purchase of shares. The Administrator will invest your funds as promptly as practicable, at least
once each week. However, funds automatically withdrawn from your U.S. bank account will be invested
as specified above in Optional Cash Investments By automatic recurring withdrawals from a U.S.
bank account. Funds may not be returned once they have been submitted to the Administrator. In
the unlikely event that, due to unusual market conditions, the Administrator is unable to purchase
shares of our common stock within 30 days (in the case of reinvested dividends) or within 35 days
after receipt (in the case of cash investments), the funds will be returned to you by check. No
interest will be paid on funds held by the Administrator pending investment. All dividends will be
invested independently from optional cash investments. Please note that you will not be able to
direct the Administrator to purchase shares at a specific time or at a specific price or through a
specific broker or dealer.
Price of Shares
Open market purchases for initial, optional and IRA investments will be at a price equal to 100% of
the weighted average per share price of shares purchased by the Administrator to satisfy Plan
requirements. If the Administrator purchases shares to meet the dividend reinvestment requirement
in the open market, your price per share will be 95% of the weighted average price of shares
purchased. We will pay all transaction fees and per share fees in connection with open market
purchases.
For original issue or treasury shares purchased from Aqua America for initial, optional and IRA
investments, the price per share will be 100% of the average of the daily high and low trading
prices quoted on The New York Stock Exchange composite transaction
listing on the day of purchase (the investment date).
For original issue or treasury shares purchased from Aqua America to meet the dividend
reinvestment
requirement under the Plan, the price per share will be 95% of the average of the daily high and
low trading prices quoted on The New York Stock Exchange composite transaction
listing for the five trading days preceding the
dividend payment date.
8
Sale of Shares
You can sell some or all of the shares held in your Plan account, or any other book-entry shares of
Aqua America, by accessing your Plan account through the Internet at the Administrators web site,
www.computershare.com/investor, by calling the Administrator at 1-800-205-8314, by
providing written instructions to the Administrator or by mailing the form attached to your Plan
statement. Sale orders placed over the phone may be subject to a limit established by the
Administrator. We are not responsible for trading fees incurred in the sale of shares.
If you ask the Administrator to sell some or all of your shares, you can choose to sell through a
market order or batch order sale. For a batch order sale, you will be charged a transaction fee of
$15, plus $0.15 per share, through a market order sale, you will be charged a transaction fee of
$25, plus $0.15 per share.
A market order is a request to sell shares promptly at the current market price. Market order sales
are only available www.computershare.com/investor or by calling the Administrators
directly at 1-800-205-8314. Market order sale requests received at
www.computershare.com/investor or by telephone will be placed promptly upon receipt during
market hours (normally 9:30 a.m. to 4:00 p.m. Eastern Time). Any orders received after 4:00 p.m.
Eastern Time will be placed promptly on the next day the market is open. The price shall be the
market price of the sale obtained by the Plan Administrators broker, less a transaction fee of $25
plus $0.15 per share.
A batch order is an accumulation of all sales requests for a security submitted together as a
collective request. Batch orders are submitted on each market day, assuming there are sale requests
to be processed. Sale instructions for batch orders received by the Administrator will be processed
no later than five business days after the date on which the order is received (except where
deferral is required under applicable federal or state laws or regulations), assuming the
applicable market is open for trading and sufficient market liquidity exists. Batch order sales are
available at www.computershare.com/investor, by calling the Administrator directly at
1-800-205 8314 or in writing. All sales requests received in writing, including sale requests for
IRA Plan accounts and Coverdell Education Savings Accounts, will be submitted as batch order sales.
The Administrator will cause your shares to be sold on the open market within five business days of
receipt of your request. To maximize cost savings for batch order sale requests, the Administrator
will seek to sell shares in round lot transactions. For this purpose the Administrator may combine
each selling program participants shares with those of other selling program participants. In
every case of a batch order sale, the price to each selling program participant shall be the
weighted average sale price obtained by the Administrators broker for each aggregate order placed
by the Administrator and executed by the broker, less a transaction fee of $15 and $0.15 per share.
Proceeds are normally paid by check, which are distributed within 24 hours after your sale
transaction has settled.
Please note that the Administrator is not able to accept instructions to sell on a specific day or
at a specific price or through a specific broker or dealer. If you prefer to have complete control
over the exact timing and sales prices, you can withdraw the shares and sell them through a broker
of your own choosing.
All sales requests having an anticipated market value of $25,000 or more must be submitted in
written form.
If you elect to sell shares online at www.computershare.com/investor, you may utilize the
Administrators international currency exchange service to convert the sale proceeds to your local
currency prior to being sent to you. Receiving sales proceeds in a local currency and having your
check drawn on a local bank avoids the
9
timely and costly collection process required for cashing
U.S. dollar checks. This service is subject to additional terms and conditions and fees, which you
must agree to online. We are not responsible for any costs or fees associated with your use of
this service.
If your holdings in any account fall below 5 shares, the Administrator may close that account out
of the Plan as described in the Minimum Account section of this prospectus.
Individual Retirement Accounts (IRA)
You may establish a Traditional IRA, Roth IRA or Coverdell Education Savings Account of our common
stock by returning completed Enrollment Forms together with your contribution to the IRA and
Coverdell Education Savings Account Trustee. If you are already a shareholder of at least 5 shares,
you may open an IRA or Coverdell Education Savings Account with as little as $50. If you are not a
shareholder, the minimum contribution to open an account is $500.
You may also open an IRA or Coverdell Education Savings Account to receive a cash rollover or a
transfer of Aqua America shares from another IRA or qualified retirement plan. The IRA and Coverdell
Savings Account Trustee will invest the cash rollovers into shares of our common stock.
There is an annual maintenance fee of $45.00 charged by the IRA and Coverdell Education Savings
Account Trustee, which we will pay for the first calendar year in which you participate. In all
subsequent years, twenty-five dollars ($25.00) of this annual fee will be charged to you, with
the balance paid by us.
IRA and Coverdell Education Savings Account contributions and rollovers will not count against
the $250,000 maximum investment limit under the Plan.
If you are interested in opening a Traditional IRA, Roth IRA or Coverdell Education Savings
Account, you may obtain the enrollment and a disclosure statement from Computershare Trust Company,
N.A., which will administer the IRA and Coverdell Education Savings Account. For information, call
the Computershare IRA Department at its toll-free number, 1-800-472-7428.
Safekeeping of Certificates and Book Entry
For your convenience, shares purchased under the Plan will be maintained by the Administrator in
your name in book-entry form. You may, however, request a stock certificate, free of charge, by
accessing your Plan account through the Internet at the Administrators web site,
www.computershare.com/investor, by calling the Administrator at 1-800-205-8314 or by
providing written instructions to the Administrator.
If you are holding certificates for Aqua America, Inc., or previously named Philadelphia Suburban
Corporation common stock, you may use the Plans safekeeping service to deposit those stock
certificates at no cost. Safekeeping protects your shares against loss, theft or accidental
destruction and provides a convenient way for you to keep track of your shares. Only shares held
in safekeeping or in book-entry form may be sold through the Plan.
To use the safekeeping service, send your certificates to the Administrator at the address listed
on page 4 of this prospectus by registered or certified mail, with a return receipt requested or
some other form of traceable mail, and properly insured. YOU SHOULD NOT ENDORSE THE STOCK
CERTIFICATE BEFORE YOU SEND IT IN.
10
Tracking Your Investment
The Administrator will send a statement confirming the details of each transaction you make. For
market order transactions, the time of sale will be provided. If you continue to be enrolled in
the Plan, but have no transactions, the Administrator will mail you
an annual statement reflecting
your holdings.
You should notify the Administrator promptly of any change in address since all notices, statements
and reports will be mailed to your address of record.
Please retain your statements to establish the cost basis of shares purchased under the Plan for
income tax and other purposes. A $20 flat fee per year requested will be charged for all prior
year duplicate statement requests.
You may also view year-to-date transaction activity in your Plan account for the current year, as
well as activity in prior years, by accessing your Plan account through the Internet at the
Administrators web site, www.computershare.com/investor.
Obtaining a Stock Certificate
To obtain a stock certificate for all or a portion of your full shares, you can contact the
Administrator by accessing your Plan account through the Internet at the Administrators web site,
www.computershare.com/investor, by calling the Administrator at 1-800-205-8314, by making a
written request of the Administrator or by completing the transaction form at the bottom of your
statement and submitting it to the Administrator. The certificate will be issued at no cost to you.
No fractional shares of common stock will be issued; instead, the then-current market value of any
fractional share sold, less any transaction fees and per share fees, will be paid in cash.
If you want the certificate issued in a name other than your Plan account registration, the
Administrator may require you to have your signature guaranteed by a financial institution in the
Medallion Guarantee program.
Transfers
You may transfer or give our common stock to anyone you choose by:
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Making an initial $500 cash investment to establish a new account in the recipients name; or |
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Making an optional cash investment on behalf of an existing shareholder in the Plan in an amount
not less than $50 nor more than $250,000 in one calendar year; or |
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Transferring at least 5 shares from your account to the recipient. |
If you would like transfer instructions and documentation sent to you or if you need additional
assistance, please contact the Administrator at 1-800-205-8314 or through the Administrators web
site, www.computershare.com/investor.
Dividend Payment and Record Dates
Normal dividend payment dates are expected to be on the first day of March, June, September
and December. The record date usually precedes the dividend payment date by 10 business days.
11
In order to be the owner of record and eligible to receive the quarterly dividend, your shares
must have been purchased and the transaction settled three trading days prior to the record date
(the ex-dividend date). We can give no guarantee whatsoever that we will declare dividends in the
future.
Termination of Participation
If you wish to stop reinvesting your dividends or to stop automatic monthly investments, please use
the transaction form from the bottom of your statement or contact the Administrator by accessing
your Plan account through the Internet at the Administrators web site,
www.computershare.com/investor, by calling the Administrator at 1-800-205-8314 or by
providing written instructions to the Administrator.
In the event you have been reinvesting your dividends and your notice of termination is received by
the Administrator after a record date for a dividend payment, the Administrator, in its sole
discretion, may either distribute that dividend in cash or reinvest it in shares on your behalf. In
the event the dividend is reinvested, the Administrator will process your withdrawal from the Plan
as soon as practicable, but in no event later than five business days after the purchase is
completed.
Minimum Account
After you have made your initial contribution of $500 by automatic withdrawals, check or one-time
online bank debit, or had at least 5 shares transferred into an account registered in your name
under the Plan, you must, at all times you are enrolled in the Plan, keep a minimum number of 5
shares of our common stock in your account. If you keep less than 5 shares in your account, the
Administrator will contact you, at your record address, to notify you that your account will be
closed within sixty (60) days of the day that your account held less than 5 shares. You will then
have sixty (60) days from that date to purchase enough shares to have at least 5 shares in your
account.
If the above-referenced time period passes without you meeting the 5-share limit, the Administrator
will close the account. A check representing the cash value of all of your shares based upon the
then-current market value price less any transaction fees, per share fees or other costs of sale,
will be sent to your address of record thereby closing the account. To resume participation in the
Plan you will have to enroll again or otherwise re-enter the Plan.
Costs
We pay for all transaction fees and per share fees( which include any brokerage commissions the
Administrator is required to pay) associated with the reinvestment of dividends and the making of
optional cash investments.
For each batch order sale of whole shares from your Plan account, you will be charged a $15.00
transaction fee and a per share fee of $0.15.
For each market order sale of whole shares from your Plan account, you will be charged a $25.00
transaction fee and a per share fee of $0.15.
There is an annual maintenance fee of $45.00 charged by the IRA and Coverdell Education Savings
Account Trustee, which we will pay for the first calendar year in which you participate. In all
subsequent
12
years, twenty-five dollars ($25.00) of this annual fee will be charged to you, with
the balance of the annual fee paid by us.
Taxes
All dividends paid to you whether or not they are reinvested are considered taxable income to
you in the year they are paid. The total amount will be reported to you, and to the Internal
Revenue Service, shortly after the close of each year. If you are reinvesting your dividends, the
value of the 5% discount from the purchase price of the shares (the calculated fair market value)
will also be reported as taxable income.
All shares of stock that are sold through the Administrator will also be reported to the IRS as
required by law. Any profit or loss you incur should be reflected when you file your income tax
returns.
In addition, the Internal Revenue Service may require that any per share fees (which include any
brokerage commissions the Administrator is required to pay incurred in the purchase of shares and
paid by us on your behalf be treated as dividend income to you, in which case such amounts can be
included in your cost basis of shares purchased.
Be sure to keep your statements of account for income tax purposes. A fee of $20.00 per year
requested may be incurred to furnish historical information. If you have questions about the tax
basis of any transactions, please consult your own tax advisor.
Voting
We will forward to you, either electronically or by mail based on your preference, a proxy for
shares of our common stock for which you hold certificates and shares of our common stock credited
to your Plan account. The Administrator shall not vote shares of our common stock that it holds for
your Plan account except as directed by you.
Handling of Stock Splits and Other Distributions
In the event we issue a stock dividend or declare a stock split, your Plan account will be adjusted
to reflect the receipt of shares paid or distributed. Any stock dividend or stock split shares of
our common stock issued with respect to both certificated and book-entry (whole and fractional)
shares will be credited automatically to your Plan account in book-entry form.
In the event of a stock subscription or other offering of rights to shareholders, your rights will
be based on your total registered holdings (the shares held in the Plan and outside of the Plan).
A single set of materials will be distributed that will allow you to exercise your total rights.
Changes to the Plan
We may add to or modify the Plan at any time. Similarly, we may, at any time, waive, suspend or
terminate the Plan, or any provision of the Plan. All participants
will receive notice of any
significant changes, suspensions or termination. The current prospectus is filed with the SEC and
available on our website at http://ir.aquaamerica.com/downloads/prospectus2008.pdf and
modifications to the Plan will be reflected in an updated prospectus on our website.
13
Any modification made to, or waiver, suspension or termination of, the Plan will apply to a
participants holdings in the Plan at the time the modification, waiver, suspension or termination
becomes effective and to transactions occurring thereafter, regardless of when or how the shares
were acquired. However, any modification, waiver, suspension or termination of the Plan will not
affect your rights as a shareholder in any way, and any book-entry shares you own will continue to
be credited to your account with the Administrator unless you specifically request otherwise.
We and the Administrator reserve the right to change any administrative procedure of the Plan.
Interpretation of the Plan
We may interpret and regulate the Plan as deemed necessary or desirable in connection with the
operation of the Plan and resolve questions or ambiguities concerning the various provisions of the
Plan.
Responsibilities of Aqua America and the Administrator
Neither we nor the Administrator shall be liable for any act performed in good-faith or for any
good-faith omission to act, including, without limitation, any claims or liability: (a) for failure
to terminate your account upon your death prior to receiving written notice of such death or (b)
with respect to the prices at which shares of our common stock are purchased or sold for your Plan
account and the times when such purchases or sales are made or (c) for any fluctuation in the market
value after purchases or sale of shares of our common stock.
Neither we nor the Administrator can assure you a profit or protect you against a loss on the
shares you purchase under the Plan.
Use of Proceeds
The proceeds from the sale of newly-issued or treasury shares offered by us will be used for
general corporate purposes. All other shares of common stock acquired under the Plan will be
purchased in the open market, not from us, and we will not receive any proceeds from such
purchases.
Experts
Our consolidated financial statements and managements assessment of the effectiveness of internal
control over financial reporting (which is included in Managements Report on Internal Control
over Financial Reporting), incorporated in this prospectus by reference to our Annual Report on
Form 10-K for the year ended December 31, 2007, have been so incorporated in reliance on the
reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on
the authority of said firm as experts in auditing and accounting.
Morgan, Lewis & Bockius LLP, our outside counsel, has given its opinion regarding the validity of
the common stock covered by this prospectus.
Antidilution Provision
The aggregate number of shares of common stock registered for issuance and purchase under the Plan,
as provided in the Registration Statement, of which this prospectus forms a part, the maximum
number of shares that may be purchased by a participant and the calculation of the purchase price
per share may be appropriately adjusted by us to reflect any increase or decrease in the number of
issued shares of common stock resulting
14
from a subdivision or consolidation of shares or other
capital adjustment, or the payment of a stock dividend, or other increase or decrease in such
shares, if effected without receipt of consideration by us.
Where You Can Find More Information
We file
annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy any document we file at the SECs public reference room at 100 F Street N.E.,
Washington, D.C. 20549. Copies of such materials can be obtained by mail at prescribed rates from
the public reference room. Please call the SEC at 1-800-SEC-0330 for further information on the
public reference room. You may also obtain our SEC filings from the SECs web site at
www.sec.gov or from our web site at http://ir.aquaamerica.com/.
This prospectus is part of a Registration Statement on Form S-3 that we filed with the SEC to
register the stock offered under the Plan. As allowed by SEC rules, this prospectus does not
contain all information you can find in the Registration Statement or the exhibits to the
Registration Statement. The SEC allows us to incorporate by reference information into this
prospectus, which means that we can disclose important information to you by referring you to
another document filed separately with the SEC. The information incorporated by reference is
considered to be part of this prospectus and later information filed with the SEC will update and
supersede this information. Any statement so updated or superceded shall not be deemed, except as
so updated or superceded, to constitute a part of this prospectus. We incorporate by reference the
documents listed below and any future filings made with the SEC under Section 13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934, as amended, until our offering is completed.
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Our Annual Report on Form 10-K for the year ended December 31, 2007, including
portions of our 2007 Annual Report to Shareholders and our definitive Proxy
Statement for our 2008 Annual Meeting of Shareholders incorporated therein by
reference. |
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Our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2008 and
June 30, 2008. |
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Our Current Reports on Form 8-K filed on April 24, 2008, May 29, 2008 and July 3, 2008. |
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The description of our common stock set forth in our Registration Statement on
Form 8-A, including any amendments or reports filed for the purpose of updating such
description. |
You may request a copy of any documents that we incorporate by reference at no cost by
telephoning 1-610-527-8000 or writing us at the following address:
Aqua America, Inc.
Investor Relations
762 W. Lancaster Avenue
Bryn Mawr, PA 19010
You should rely only on the information contained or incorporated by reference into this
prospectus. We have authorized no one to provide you with different information. You should not
assume that the information in the prospectus or incorporated by reference into this prospectus is
accurate as of any date other than the date on the front of this prospectus or the date of those
documents. Our business, financial condition, results of operations and prospects may have changed
since those dates.
15
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
The following table sets forth an estimate of the costs and expenses payable by the Registrant
in connection with the offering described in this registration statement. All of the amounts shown
are estimates except the Securities and Exchange Commission registration fee.
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Securities and Exchange Commission registration fee |
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$ |
3,097 |
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Printing and Engraving |
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75,000 |
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Accounting fees and expenses |
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15,000 |
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Legal fees and expenses |
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30,000 |
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Transfer Agent fees and expenses |
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10,000 |
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Miscellaneous |
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5,000 |
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Total |
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$ |
138,097 |
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Item 15. Indemnification of Directors and Officers.
The Registrant is a Pennsylvania corporation. Sections 1741 and 1742 of the Pennsylvania
Business Corporation Law of 1988, as amended (the PBCL), provide that, unless otherwise
restricted in its bylaws, a business corporation may indemnify directors and officers against
liabilities they may incur as such, provided that the particular person acted in good faith and in
a manner he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation, and, with respect to any criminal proceeding, had no reasonable cause to believe his
or her conduct was unlawful. In general, the power to indemnify under these sections does not exist
in the case of actions against a director or officer by or in the right of the corporation if the
person otherwise entitled to indemnification shall have been adjudged to be liable to the
corporation unless it is judicially determined that, despite the adjudication of liability but in
view of all the circumstances of the case, the person is fairly and reasonably entitled to
indemnification for specified expenses. Section 1743 of the PBCL requires a business corporation to
indemnify directors and officers against expenses they may incur in defending actions against them
in such capacities if they are successful on the merits or otherwise in the defense of such
actions.
Section 1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a
director (but not an officer) of personal liability for monetary damages except where (i) the
director has breached the applicable standard of care, and (ii) such conduct constitutes
self-dealing, willful misconduct or recklessness. This Section also provides that a director may
not be relieved of liability for the payment of taxes pursuant to any federal, state or local law
or of liability or responsibility under a criminal statute. Section 4.01 of the Registrants bylaws
limits the liability of any director of the Registrant to the fullest extent permitted by Section
1713 of the PBCL.
Section 1746 of the PBCL grants a corporation broad authority to indemnify its directors,
officers and other agents for liabilities and expenses incurred in such capacity, except in
circumstances where the act or failure to act giving rise to the claim for indemnification is
determined by a court to have constituted willful misconduct or recklessness. Article VII of the
Registrants bylaws provides indemnification of directors, officers and other agents of the
Registrant broader than the indemnification permitted by Section 1741 of the PBCL and pursuant to
the authority of Section 1746 of the PBCL.
Article VII of the Registrants bylaws provides, except as expressly prohibited by law, an
unconditional right to indemnification for expenses and any liability paid or incurred by any
director or officer of the Registrant, or any other person designated by the board of directors as
an indemnified representative, in connection with any actual or threatened claim, action, suit or
proceeding (including derivative suits) in which he or she may be involved by reason of being or
having been a director, officer, employee or agent of the Registrant or, at the request of the
Registrant, of another corporation, partnership, joint venture, trust, employee benefit plan or
other entity. The bylaws specifically authorize indemnification against both judgments and amounts
paid in settlement of derivative
II-1
suits, unlike Section 1742 of the PBCL which authorizes indemnification only of expenses incurred
in defending and in settlement of a derivative action. In addition, Article VII of the bylaws also
allows indemnification for punitive damages and liabilities incurred under the federal securities
laws.
Unlike the provisions of PBCL Sections 1741 and 1742, Article VII does not require the
Registrant to determine the availability of indemnification by the procedures or the standard of
conduct specified in Sections 1741 or 1742 of the PBCL. A person who has incurred an indemnifiable
expense or liability has a right to be indemnified independent of any procedures or determinations
that would otherwise be required, and that right is enforceable against the Registrant as long as
indemnification is not prohibited by law. To the extent indemnification is permitted only for a
portion of a liability, the bylaw provisions require the Registrant to indemnify such portion. If
the indemnification provided for in Article VII is unavailable for any reason in respect of any
liability or portion thereof, the bylaws require the Registrant to make a contribution toward the
liability. Indemnification rights under the bylaws do not depend upon the approval of any future
board of directors.
Section 7.04 of the Registrants bylaws also authorizes the Registrant to further effect or
secure its indemnification obligations by entering into indemnification agreements, maintaining
insurance, creating a trust fund, granting a security interest in its assets or property,
establishing a letter of credit, or using any other means that may be available from time to time.
Section 1747 of the PBCL also enables a business corporation to purchase and maintain insurance on
behalf of a person who is or was serving as a representative of the corporation or is or was
serving at the request of the corporation as a representative of another entity against any
liability asserted against that representative in his capacity as such, whether or not the
corporation would have the power to indemnify him against that liability under the PBCL. The
Registrant maintains, on behalf of its directors and officers, insurance protection against certain
liabilities arising out of the discharge of their duties, as well as insurance covering the
Registrant for indemnification payments made to its directors and officers for certain liabilities.
The premiums for such insurance are paid by the Registrant.
Item 16. Exhibits.
A list of exhibits filed herewith or incorporated by reference is contained in the Exhibit Index
beginning on page E-1, which is incorporated herein by reference.
Item 17. Undertakings.
The undersigned Registrant hereby undertakes:
(1) |
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To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: |
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(i) |
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To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; |
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(ii) |
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To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in
the aggregate, the changes in volume and price represent no more than
20% change in the maximum aggregate offering price set forth in the
Calculation of Registration Fee table in the effective registration
statement. |
II-2
(iii) |
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To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement
or any material change to such information in the registration
statement; |
Provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not
apply if the registration statement is on Form S-3 and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act
of 1934 that are incorporated by reference in the registration statement, or is contained in a form
of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.
(2) |
|
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof. |
|
(3) |
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To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the
termination of the offering. |
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(4) |
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That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: |
(A) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part
of the registration statement as of the date the filed prospectus was deemed part of and included
in the registration statement; and
(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a
registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule
415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a)
of the Securities Act of 1933 shall be deemed to be part of and included in the registration
statement as of the earlier of the date such form of prospectus is first used after effectiveness
or the date of the first contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is
at that date an underwriter, such date shall be deemed to be a new effective date of the
registration statement relating to the securities in the registration statement to which that
prospectus relates, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof. Provided, however, that no statement made in a registration
statement or prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement or prospectus that
is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such effective date, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in any such document
immediately prior to such effective date; or
(5) |
|
That, for the purpose of determining liability of the registrant under
the Securities Act of 1933 to any purchaser in the initial
distribution of the securities: |
The undersigned registrant undertakes that in a primary offering of securities of the undersigned
registrant pursuant to this registration statement, regardless of the underwriting method used to
sell the securities to the purchaser, if the securities are offered or sold to such purchaser by
means of any of the following communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering
required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the
undersigned registrant or used or referred to by the undersigned registrant;
(iii) The portion of any other free writing prospectus relating to the offering containing material
information about the undersigned registrant or its securities provided by or on behalf of the
undersigned registrant; and
II-3
(iv) Any other communication that is an offer in the offering made by the undersigned registrant to
the purchaser.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under
the Securities Act, each filing of the Registrants annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plans
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
the Registration Statement shall be deemed to be a new Registration Statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Bryn Mawr, Commonwealth of
Pennsylvania, on the 8th day
of August, 2008.
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AQUA AMERICA, INC.
|
|
|
BY: |
/s/ Nicholas DeBenedictis
|
|
|
|
Nicholas DeBenedictis |
|
|
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Chairman, President & Chief Executive Officer |
|
|
Each person whose signature appears below hereby appoints David P. Smeltzer, Chief Financial
Officer of Registrant, and Roy H. Stahl, Chief Administrative Officer, General Counsel and
Corporation Secretary of Registrant, and each of them acting individually, as his or her true and
lawful attorneys-in-fact, with full power of substitution and resubstitution, with the authority to
execute in the name of each such person, and to file with the Securities an Exchange Commission,
together with any exhibits thereto and other documents therewith, any and all amendments to this
registration statement (including post-effective amendments and all other related documents)
necessary or advisable to enable the registrant to comply with the Securities Act of 1933, and any
rules, regulations and requirements of the Securities and Exchange Commission in respect thereof,
which amendments may make such changes in the registration statement as the aforesaid
attorney-in-fact executing the same deems appropriate.
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed below by the following persons on behalf of the Registrant and in the
capacities indicated, as of August 8, 2008.
|
|
|
Signature |
|
Title |
|
|
|
/s/ Nicholas DeBenedictis
Nicholas DeBenedictis |
|
Chairman, President & Chief Executive Officer
(Principal Executive Officer) |
|
|
|
/s/ David P. Smeltzer
David P. Smeltzer |
|
Chief Financial Officer
(Principal Financial Officer) |
|
|
|
/s/ Robert Rubin
Robert Rubin |
|
Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) |
|
|
|
/s/ Mary C. Carroll
Mary C. Carroll |
|
Director
|
|
|
|
/s/ Lon R. Greenberg
Lon R. Greenberg |
|
Director
|
|
|
|
/s/ William P. Hankowsky
William P. Hankowsky |
|
Director
|
|
|
|
/s/ Dr. Constantine Papadakis
Dr. Constantine Papadakis |
|
Director
|
|
|
|
Signature |
|
Title |
|
|
|
/s/ Ellen T. Ruff
Ellen T. Ruff |
|
Director
|
|
|
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/s/ Richard L. Smoot
Richard L. Smoot |
|
Director
|
|
|
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/s/ Andrew J. Sordoni, III
Andrew J. Sordoni, III |
|
Director
|
EXHIBIT INDEX
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Exhibit |
|
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Number |
|
Description of Exhibit |
|
|
|
3.1
|
|
Restated Articles of Incorporation of Aqua America, Inc. (filed as
Exhibit 3.1 to Registrants Current Report of Form 8-K on December 16,
2004 and incorporated herein by reference). |
|
|
|
3.2
|
|
Bylaws of Aqua America, Inc., as amended (filed as Exhibit 3.2 to
Registrants Annual Report on Form 10-K for the year ended December
31, 2007 and incorporated herein by reference). |
|
|
|
5
|
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Opinion of Morgan, Lewis & Bockius LLP.* |
|
|
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23.1
|
|
Consent of Morgan, Lewis & Bockius LLP (included in Exhibit 5 hereto).* |
|
|
|
23.2
|
|
Consent of PricewaterhouseCoopers LLP.* |
|
|
|
24
|
|
Powers of Attorney (included on signature pages hereto). |
E-1